USAdvisors Wealth Management LLC Has $17.44 Million Stake in Invesco QQQ $QQQ

USAdvisors Wealth Management LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 51.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,597 shares of the exchange traded fund’s stock after selling 33,943 shares during the period. Invesco QQQ comprises approximately 6.5% of USAdvisors Wealth Management LLC’s portfolio, making the stock its biggest position. USAdvisors Wealth Management LLC’s holdings in Invesco QQQ were worth $17,442,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its stake in Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after buying an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ during the first quarter worth $2,775,904,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter worth $474,600,000. Finally, Altimeter Capital Management LP bought a new position in Invesco QQQ in the 1st quarter valued at $463,293,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.4%

Shares of Invesco QQQ stock opened at $603.18 on Monday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $607.33. The stock has a fifty day moving average price of $579.85 and a 200-day moving average price of $532.54.

Invesco QQQ Increases Dividend

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

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.