Beacon Capital Management LLC Buys 3,322 Shares of Invesco QQQ (NASDAQ:QQQ)

Beacon Capital Management LLC raised its position in Invesco QQQ (NASDAQ:QQQ) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,275 shares of the exchange traded fund’s stock after buying an additional 3,322 shares during the quarter. Invesco QQQ accounts for 4.1% of Beacon Capital Management LLC’s holdings, making the stock its 6th biggest holding. Beacon Capital Management LLC’s holdings in Invesco QQQ were worth $15,617,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of Invesco QQQ by 156,045.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock valued at $11,580,806,000 after buying an additional 43,463,232 shares in the last quarter. Morgan Stanley raised its position in Invesco QQQ by 10.0% during the fourth quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock valued at $4,477,628,000 after purchasing an additional 1,533,114 shares in the last quarter. Kensington Asset Management LLC bought a new stake in Invesco QQQ during the first quarter worth $342,079,000. Money Concepts Capital Corp boosted its holdings in shares of Invesco QQQ by 971.1% in the 1st quarter. Money Concepts Capital Corp now owns 951,023 shares of the exchange traded fund’s stock valued at $10,353,000 after purchasing an additional 862,236 shares in the last quarter. Finally, Natixis bought a new position in shares of Invesco QQQ in the 4th quarter valued at $228,207,000. Institutional investors own 43.95% of the company’s stock.

Invesco QQQ Trading Down 0.9 %

Shares of QQQ traded down $3.16 during mid-day trading on Tuesday, reaching $367.50. The company had a trading volume of 6,443,468 shares, compared to its average volume of 53,355,359. The company’s 50 day simple moving average is $373.20 and its 200 day simple moving average is $348.47. Invesco QQQ has a 1-year low of $254.26 and a 1-year high of $387.98.

Invesco QQQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 19th will be given a $0.5389 dividend. The ex-dividend date is Monday, September 18th. This represents a $2.16 dividend on an annualized basis and a yield of 0.59%.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.