Gradient Investments LLC Boosts Position in Invesco QQQ $QQQ

Gradient Investments LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 329.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,391 shares of the exchange traded fund’s stock after acquiring an additional 7,204 shares during the quarter. Gradient Investments LLC’s holdings in Invesco QQQ were worth $5,181,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Compass Financial Services Inc boosted its position in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after purchasing an additional 19 shares during the period. Willis Johnson & Associates Inc. boosted its position in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock worth $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC lifted its holdings in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after buying an additional 21 shares in the last quarter. Cutler Investment Counsel LLC lifted its holdings in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after buying an additional 21 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC lifted its holdings in Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund’s stock worth $707,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.9%

Shares of QQQ stock opened at $591.68 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $591.79. The company’s fifty day moving average price is $569.03 and its two-hundred day moving average price is $521.27.

Invesco QQQ Cuts Dividend

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

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.