JGP Wealth Management LLC Grows Position in Invesco QQQ $QQQ

JGP Wealth Management LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,601 shares of the exchange traded fund’s stock after acquiring an additional 179 shares during the quarter. JGP Wealth Management LLC’s holdings in Invesco QQQ were worth $883,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cypress Wealth Services LLC lifted its stake in Invesco QQQ by 23.2% in the second quarter. Cypress Wealth Services LLC now owns 6,531 shares of the exchange traded fund’s stock worth $3,603,000 after acquiring an additional 1,231 shares during the period. Innova Wealth Partners lifted its stake in Invesco QQQ by 240.7% in the second quarter. Innova Wealth Partners now owns 6,051 shares of the exchange traded fund’s stock worth $3,338,000 after acquiring an additional 4,275 shares during the period. J.Safra Asset Management Corp lifted its stake in Invesco QQQ by 3.6% in the second quarter. J.Safra Asset Management Corp now owns 355,919 shares of the exchange traded fund’s stock worth $195,076,000 after acquiring an additional 12,270 shares during the period. Frazier Financial Advisors LLC lifted its position in shares of Invesco QQQ by 83.1% during the second quarter. Frazier Financial Advisors LLC now owns 238 shares of the exchange traded fund’s stock valued at $131,000 after buying an additional 108 shares during the last quarter. Finally, IFC Advisors LLC lifted its position in shares of Invesco QQQ by 67.3% during the second quarter. IFC Advisors LLC now owns 900 shares of the exchange traded fund’s stock valued at $496,000 after buying an additional 362 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $598.00 on Wednesday. The firm has a 50-day simple moving average of $585.40 and a two-hundred day simple moving average of $538.03. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

Invesco QQQ Increases Dividend

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

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.