Invesco QQQ $QQQ is New Wave Wealth Advisors LLC’s 9th Largest Position

New Wave Wealth Advisors LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 11.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,705 shares of the exchange traded fund’s stock after acquiring an additional 1,134 shares during the period. Invesco QQQ accounts for approximately 2.5% of New Wave Wealth Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. New Wave Wealth Advisors LLC’s holdings in Invesco QQQ were worth $5,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. NRI Wealth Management LC lifted its holdings in Invesco QQQ by 4.6% in the 2nd quarter. NRI Wealth Management LC now owns 59,565 shares of the exchange traded fund’s stock worth $32,858,000 after buying an additional 2,638 shares during the period. USA Financial Formulas lifted its holdings in Invesco QQQ by 950.8% in the 2nd quarter. USA Financial Formulas now owns 114,628 shares of the exchange traded fund’s stock worth $63,233,000 after buying an additional 103,719 shares during the period. Newman Dignan & Sheerar Inc. purchased a new stake in Invesco QQQ in the 2nd quarter worth approximately $279,000. Heritage Financial Services LLC lifted its holdings in Invesco QQQ by 12.6% in the 2nd quarter. Heritage Financial Services LLC now owns 851 shares of the exchange traded fund’s stock worth $469,000 after buying an additional 95 shares during the period. Finally, Founders Capital Management lifted its holdings in Invesco QQQ by 0.8% in the 2nd quarter. Founders Capital Management now owns 30,597 shares of the exchange traded fund’s stock worth $16,879,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5%

NASDAQ QQQ opened at $603.25 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $603.79. The stock has a 50 day simple moving average of $578.30 and a two-hundred day simple moving average of $530.08.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.