Envestnet Asset Management Inc. Has $1.79 Billion Stake in Invesco QQQ $QQQ

Envestnet Asset Management Inc. grew its stake in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,986,326 shares of the exchange traded fund’s stock after buying an additional 64,025 shares during the period. Envestnet Asset Management Inc.’s holdings in Invesco QQQ were worth $1,792,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of QQQ. Fifth Third Securities Inc. raised its stake in Invesco QQQ by 2.6% in the 3rd quarter. Fifth Third Securities Inc. now owns 109,863 shares of the exchange traded fund’s stock valued at $65,959,000 after acquiring an additional 2,822 shares during the period. SK Wealth Management LLC acquired a new position in shares of Invesco QQQ in the third quarter valued at $803,000. Great Point Wealth Advisors LLC acquired a new position in shares of Invesco QQQ in the third quarter valued at $507,000. Strengthening Families & Communities LLC bought a new position in shares of Invesco QQQ in the third quarter valued at about $10,771,000. Finally, BCGM Wealth Management LLC lifted its stake in shares of Invesco QQQ by 13.6% during the 2nd quarter. BCGM Wealth Management LLC now owns 25,597 shares of the exchange traded fund’s stock worth $14,120,000 after buying an additional 3,066 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

More Invesco QQQ News

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Invesco QQQ Stock Down 1.5%

Shares of QQQ stock opened at $616.52 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01. The company has a 50-day simple moving average of $620.40 and a 200 day simple moving average of $601.69.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a dividend of $0.7941 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69. This represents a $3.18 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, December 22nd.

About Invesco QQQ

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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