Investment Partners Asset Management Inc. Has $1.42 Million Position in Invesco QQQ (NASDAQ:QQQ)

Investment Partners Asset Management Inc. lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,192 shares of the exchange traded fund’s stock after purchasing an additional 27 shares during the quarter. Invesco QQQ accounts for about 1.3% of Investment Partners Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Investment Partners Asset Management Inc.’s holdings in Invesco QQQ were worth $1,417,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QQQ. Summit X LLC grew its position in shares of Invesco QQQ by 0.4% in the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after buying an additional 24 shares during the last quarter. IMA Wealth Inc. boosted its position in shares of Invesco QQQ by 1.3% during the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock valued at $695,000 after purchasing an additional 25 shares in the last quarter. S.A. Mason LLC boosted its position in shares of Invesco QQQ by 1.5% during the 4th quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after purchasing an additional 25 shares in the last quarter. Lauterbach Financial Advisors LLC boosted its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after purchasing an additional 25 shares in the last quarter. Finally, Cedrus LLC boosted its position in shares of Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $481.61 on Friday. Invesco QQQ has a one year low of $342.35 and a one year high of $486.86. The stock’s 50-day moving average is $452.40 and its 200 day moving average is $435.37.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.63%.

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.