MGO Private Wealth LLC Lowers Position in Invesco QQQ (NASDAQ:QQQ)

MGO Private Wealth LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,050 shares of the exchange traded fund’s stock after selling 41 shares during the quarter. MGO Private Wealth LLC’s holdings in Invesco QQQ were worth $466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kowal Investment Group LLC increased its position in shares of Invesco QQQ by 6.9% during the first quarter. Kowal Investment Group LLC now owns 1,511 shares of the exchange traded fund’s stock valued at $671,000 after acquiring an additional 97 shares during the last quarter. HFG Advisors Inc. increased its position in Invesco QQQ by 0.9% in the first quarter. HFG Advisors Inc. now owns 22,352 shares of the exchange traded fund’s stock worth $9,924,000 after buying an additional 192 shares during the last quarter. BKM Wealth Management LLC raised its stake in shares of Invesco QQQ by 42.2% in the first quarter. BKM Wealth Management LLC now owns 9,341 shares of the exchange traded fund’s stock valued at $4,147,000 after buying an additional 2,774 shares during the period. Wolff Wiese Magana LLC lifted its position in shares of Invesco QQQ by 2.8% during the 1st quarter. Wolff Wiese Magana LLC now owns 1,850 shares of the exchange traded fund’s stock valued at $821,000 after buying an additional 51 shares during the last quarter. Finally, Fifth Third Securities Inc. grew its stake in shares of Invesco QQQ by 0.7% during the 1st quarter. Fifth Third Securities Inc. now owns 103,293 shares of the exchange traded fund’s stock worth $45,922,000 after acquiring an additional 714 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $481.92 on Tuesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20. The business has a 50-day moving average of $454.85 and a 200 day moving average of $436.77.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a $0.7615 dividend. This is an increase 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.