Invesco QQQ $QQQ Shares Acquired by Ridgeline Wealth Planning LLC

Ridgeline Wealth Planning LLC increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,998 shares of the exchange traded fund’s stock after buying an additional 1,314 shares during the quarter. Invesco QQQ comprises about 5.0% of Ridgeline Wealth Planning LLC’s holdings, making the stock its 6th largest position. Ridgeline Wealth Planning LLC’s holdings in Invesco QQQ were worth $6,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the 2nd quarter valued at $41,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at about $51,000. Blume Capital Management Inc. increased its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC raised its holdings in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $589.55 on Friday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18. The company has a 50-day moving average price of $583.89 and a 200 day moving average price of $535.94.

Invesco QQQ Increases Dividend

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

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.