Invesco QQQ $QQQ Stake Raised by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 2,282.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,482 shares of the exchange traded fund’s stock after acquiring an additional 84,768 shares during the quarter. Invesco QQQ comprises about 3.2% of McElhenny Sheffield Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. McElhenny Sheffield Capital Management LLC’s holdings in Invesco QQQ were worth $48,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in Invesco QQQ during the 2nd quarter worth about $41,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth about $51,000. Blume Capital Management Inc. raised its holdings in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC raised its holdings in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $610.70 on Friday. The stock’s 50-day moving average price is $583.17 and its two-hundred day moving average price is $535.28. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $611.75.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.