Magnolia Capital Advisors LLC Makes New $368,000 Investment in Invesco QQQ (NASDAQ:QQQ)

Magnolia Capital Advisors LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 769 shares of the exchange traded fund’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Copperwynd Financial LLC boosted its position in Invesco QQQ by 4.7% in the second quarter. Copperwynd Financial LLC now owns 53,985 shares of the exchange traded fund’s stock worth $25,431,000 after purchasing an additional 2,448 shares during the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Invesco QQQ in the second quarter valued at $6,518,000. Chicago Wealth Management Inc. raised its stake in shares of Invesco QQQ by 5.1% in the second quarter. Chicago Wealth Management Inc. now owns 14,660 shares of the exchange traded fund’s stock valued at $7,025,000 after buying an additional 711 shares during the period. Aviso Wealth Management bought a new stake in shares of Invesco QQQ in the second quarter valued at $264,000. Finally, Full Sail Capital LLC raised its stake in shares of Invesco QQQ by 3.5% in the second quarter. Full Sail Capital LLC now owns 1,327 shares of the exchange traded fund’s stock valued at $636,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $488.07 on Tuesday. The stock’s fifty day moving average price is $468.22 and its two-hundred day moving average price is $460.55. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

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

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.