SP Asset Management LLC Raises Position in Invesco QQQ (NASDAQ:QQQ)

SP Asset Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,538 shares of the exchange traded fund’s stock after acquiring an additional 161 shares during the quarter. SP Asset Management LLC’s holdings in Invesco QQQ were worth $2,653,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ in the fourth quarter worth $35,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $458.66 on Wednesday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The business has a fifty day moving average of $471.31 and a two-hundred day moving average of $456.60.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company 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.