Waterway Wealth Management LLC Takes $506,000 Position in Invesco QQQ (NASDAQ:QQQ)

Waterway Wealth Management LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the first quarter, Holdings Channel.com reports. The fund acquired 1,140 shares of the exchange traded fund’s stock, valued at approximately $506,000.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Global Assets Advisory LLC purchased a new position in Invesco QQQ in the first quarter valued at $1,580,776,000. CHURCHILL MANAGEMENT Corp boosted its holdings in Invesco QQQ by 30.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after purchasing an additional 433,317 shares during the period. Comerica Bank purchased a new position in Invesco QQQ in the third quarter valued at $140,657,000. Finally, Granite Bay Wealth Management LLC boosted its holdings in Invesco QQQ by 47.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock valued at $451,075,000 after purchasing an additional 378,922 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.5 %

NASDAQ:QQQ opened at $479.11 on Monday. The stock has a fifty day moving average price of $454.85 and a 200 day moving average price of $436.77. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $487.20.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a yield of 0.64%.

Invesco QQQ Company 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.