Royal Capital Wealth Management LLC Purchases 366 Shares of Invesco QQQ (NASDAQ:QQQ)

Royal Capital Wealth Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,230 shares of the exchange traded fund’s stock after buying an additional 366 shares during the period. Invesco QQQ comprises 2.6% of Royal Capital Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Royal Capital Wealth Management LLC’s holdings in Invesco QQQ were worth $3,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Shapiro Capital Management LLC boosted its position in Invesco QQQ by 7.4% during the second quarter. Shapiro Capital Management LLC now owns 754 shares of the exchange traded fund’s stock valued at $361,000 after buying an additional 52 shares during the period. Mill Creek Capital Advisors LLC lifted its stake in shares of Invesco QQQ by 1.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 9,162 shares of the exchange traded fund’s stock valued at $4,390,000 after acquiring an additional 104 shares during the last quarter. Cheviot Value Management LLC boosted its holdings in Invesco QQQ by 0.5% during the 2nd quarter. Cheviot Value Management LLC now owns 12,390 shares of the exchange traded fund’s stock valued at $5,936,000 after acquiring an additional 64 shares during the period. Providence Capital Advisors LLC bought a new position in Invesco QQQ during the 2nd quarter worth approximately $76,000. Finally, Davidson Kempner Capital Management LP purchased a new position in Invesco QQQ in the 2nd quarter worth approximately $4,790,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5 %

Shares of QQQ stock opened at $485.37 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The stock has a 50 day moving average price of $467.59 and a two-hundred day moving average price of $459.22.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

About Invesco QQQ

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.