Kestra Investment Management LLC Takes $462,000 Position in Invesco QQQ (NASDAQ:QQQ)

Kestra Investment Management LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the second quarter, Holdings Channel reports. The institutional investor bought 965 shares of the exchange traded fund’s stock, valued at approximately $462,000.

A number of other hedge funds have also made changes to their positions in QQQ. Atwater Malick LLC bought a new stake in shares of Invesco QQQ during the first quarter worth $293,000. Westwood Holdings Group Inc. increased its position in Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares in the last quarter. GenWealth Group Inc. raised its stake in shares of Invesco QQQ by 5.8% in the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after acquiring an additional 2,325 shares during the last quarter. Socha Financial Group LLC lifted its position in shares of Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares in the last quarter. Finally, SVB Wealth LLC grew its stake in shares of Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $488.07 on Tuesday. The firm has a 50 day simple moving average of $468.22 and a 200 day simple moving average of $460.55. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.