Wellspring Financial Advisors LLC Has $792.29 Million Stock Holdings in Invesco QQQ $QQQ

Wellspring Financial Advisors LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,436,248 shares of the exchange traded fund’s stock after buying an additional 134 shares during the quarter. Invesco QQQ accounts for 12.8% of Wellspring Financial Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Wellspring Financial Advisors LLC owned about 0.23% of Invesco QQQ worth $792,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its position in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its stake in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new position in shares of Invesco QQQ during the second quarter valued at about $1,236,482,000. JPMorgan Chase & Co. raised its holdings in shares of Invesco QQQ by 42.4% during the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock valued at $2,700,424,000 after purchasing an additional 1,457,109 shares during the period. Finally, Altimeter Capital Management LP bought a new position in shares of Invesco QQQ during the 1st quarter worth about $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $617.17 on Tuesday. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01. The stock has a 50-day moving average of $609.34 and a 200-day moving average of $574.25.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd.

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.