Rainey & Randall Wealth Advisors Inc. Has $9.94 Million Stock Holdings in Invesco QQQ $QQQ

Rainey & Randall Wealth Advisors Inc. lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,998 shares of the exchange traded fund’s stock after acquiring an additional 444 shares during the quarter. Invesco QQQ makes up approximately 1.8% of Rainey & Randall Wealth Advisors Inc.’s portfolio, making the stock its 11th biggest position. Rainey & Randall Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $9,939,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of QQQ. Compass Financial Services Inc raised 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 last quarter. Vermillion Wealth Management Inc. raised its position in shares of Invesco QQQ by 4.2% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after acquiring an additional 20 shares in the last quarter. MTM Investment Management LLC increased its position 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 valued at $613,000 after buying an additional 21 shares in the last quarter. Cutler Investment Counsel LLC increased its position 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 valued at $710,000 after buying an additional 21 shares in the last quarter. Finally, Occidental Asset Management LLC increased its position in Invesco QQQ by 1.7% in the 2nd quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund’s stock valued at $678,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4%

Shares of Invesco QQQ stock opened at $605.73 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $607.16. The business has a 50-day simple moving average of $579.12 and a 200 day simple moving average of $530.93.

Invesco QQQ Increases Dividend

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

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.