Brown Wealth Management LLC Makes New Investment in Invesco QQQ $QQQ

Brown Wealth Management LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 375 shares of the exchange traded fund’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Compass Financial Services Inc lifted its stake in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after acquiring an additional 19 shares during the period. Vermillion Wealth Management Inc. increased its stake in shares of Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after acquiring an additional 20 shares during the period. Barrett & Company Inc. raised its holdings in shares of Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after purchasing an additional 20 shares during the last quarter. waypoint wealth counsel lifted its position in Invesco QQQ by 0.6% during the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock valued at $1,964,000 after purchasing an additional 20 shares during the period. Finally, Investment Advisory Group LLC boosted its holdings in Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock valued at $3,158,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.2%

Shares of QQQ opened at $596.31 on Wednesday. The business’s 50-day moving average is $606.67 and its two-hundred day moving average is $567.44. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $637.01.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were issued a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd.

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.