Total Investment Management Inc. Has $1.15 Million Position in Invesco QQQ (NASDAQ:QQQ)

Total Investment Management Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 30.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,403 shares of the exchange traded fund’s stock after buying an additional 555 shares during the quarter. Invesco QQQ makes up approximately 0.2% of Total Investment Management Inc.’s holdings, making the stock its 25th largest holding. Total Investment Management Inc.’s holdings in Invesco QQQ were worth $1,151,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ during the first quarter worth $29,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Legacy Bridge LLC increased its holdings in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at about $35,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.7 %

Shares of NASDAQ:QQQ opened at $448.69 on Monday. The company has a 50 day moving average price of $472.43 and a two-hundred day moving average price of $456.33. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.