Mattern Wealth Management LLC Has $16.77 Million Stake in Invesco QQQ $QQQ

Mattern Wealth Management LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,400 shares of the exchange traded fund’s stock after purchasing an additional 2,578 shares during the period. Invesco QQQ makes up 3.5% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. Mattern Wealth Management LLC’s holdings in Invesco QQQ were worth $16,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the first quarter valued at approximately $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $51,000. Blume Capital Management Inc. boosted its stake 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 purchasing an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC lifted its holdings in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $600.37 on Wednesday. The stock’s fifty day simple moving average is $577.51 and its 200-day simple moving average is $529.57. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $602.87.

Invesco QQQ Increases Dividend

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

About Invesco QQQ

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.