GPS Wealth Strategies Group LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

GPS Wealth Strategies Group LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,673 shares of the exchange traded fund’s stock after purchasing an additional 4,208 shares during the quarter. Invesco QQQ accounts for approximately 5.3% of GPS Wealth Strategies Group LLC’s investment portfolio, making the stock its 4th biggest position. GPS Wealth Strategies Group LLC’s holdings in Invesco QQQ were worth $35,297,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Prospect Financial Services LLC boosted its stake in Invesco QQQ by 0.3% in the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after buying an additional 21 shares in the last quarter. Sweeney & Michel LLC boosted its position in shares of Invesco QQQ by 4.0% during the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after purchasing an additional 22 shares in the last quarter. Summit X LLC grew its position in shares of Invesco QQQ by 0.4% in the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after purchasing an additional 24 shares during the period. CarsonAllaria Wealth Management Ltd. increased its position in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares in the last quarter. Finally, Second Line Capital LLC lifted its stake in Invesco QQQ by 2.6% in the 1st quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock valued at $422,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded up $0.15 during midday trading on Wednesday, hitting $462.73. 34,366,583 shares of the company’s stock were exchanged, compared to its average volume of 41,065,219. The company’s 50 day moving average price is $473.92 and its 200 day moving average price is $450.94. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a yield of 0.66%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

Invesco QQQ Profile

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.