Accel Wealth Management Increases Position in Invesco QQQ (NASDAQ:QQQ)

Accel Wealth Management lifted its position in Invesco QQQ (NASDAQ:QQQ) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,429 shares of the exchange traded fund’s stock after purchasing an additional 383 shares during the period. Invesco QQQ comprises 1.6% of Accel Wealth Management’s portfolio, making the stock its 14th largest holding. Accel Wealth Management’s holdings in Invesco QQQ were worth $3,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Invesco QQQ by 40,957.3% during 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 acquiring an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Invesco QQQ during the first quarter valued at $1,580,776,000. Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 7.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock valued at $1,013,490,000 after acquiring an additional 162,691 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in Invesco QQQ by 30.7% during 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 acquiring an additional 433,317 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Invesco QQQ by 15.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,458,165 shares of the exchange traded fund’s stock valued at $597,148,000 after acquiring an additional 194,381 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.8 %

QQQ opened at $491.04 on Friday. The company has a fifty day moving average of $459.98 and a 200 day moving average of $438.63. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $491.17.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, June 24th.

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.