Taylor & Morgan Wealth Management LLC Has $4.43 Million Holdings in Invesco QQQ $QQQ

Taylor & Morgan Wealth Management LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,032 shares of the exchange traded fund’s stock after acquiring an additional 57 shares during the quarter. Invesco QQQ makes up about 3.0% of Taylor & Morgan Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Taylor & Morgan Wealth Management LLC’s holdings in Invesco QQQ were worth $4,431,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. increased its holdings in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the period. Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 120 shares during the period. Finally, Putney Financial Group LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $67,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.4%

QQQ opened at $586.66 on Friday. The business’s 50-day moving average price is $568.24 and its 200-day moving average price is $520.54. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $587.86.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.