Brown Wealth Management LLC Makes New Investment in Invesco QQQ $QQQ

Brown Wealth Management LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 375 shares of the exchange traded fund’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FineMark National Bank & Trust lifted its position in Invesco QQQ by 7.8% during the second quarter. FineMark National Bank & Trust now owns 44,334 shares of the exchange traded fund’s stock valued at $24,456,000 after acquiring an additional 3,198 shares during the last quarter. Copperleaf Capital LLC increased its position in shares of Invesco QQQ by 6.9% during the second quarter. Copperleaf Capital LLC now owns 3,455 shares of the exchange traded fund’s stock worth $1,906,000 after purchasing an additional 222 shares in the last quarter. Aspen Investment Management Inc acquired a new position in shares of Invesco QQQ during the second quarter worth $1,966,000. Pineridge Advisors LLC lifted its holdings in shares of Invesco QQQ by 443.2% during the 2nd quarter. Pineridge Advisors LLC now owns 402 shares of the exchange traded fund’s stock valued at $222,000 after purchasing an additional 328 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its position in shares of Invesco QQQ by 28.2% in the 2nd quarter. Highview Capital Management LLC DE now owns 1,878 shares of the exchange traded fund’s stock worth $1,036,000 after purchasing an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.2%

Shares of NASDAQ:QQQ opened at $596.31 on Wednesday. The business’s 50-day moving average is $606.67 and its 200 day moving average is $567.44. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $637.01.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were given a $0.694 dividend. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, September 22nd. This is an increase 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.