Cardinal Point Capital Management ULC Has $2.27 Million Holdings in Invesco QQQ $QQQ

Cardinal Point Capital Management ULC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,112 shares of the exchange traded fund’s stock after purchasing an additional 95 shares during the period. Cardinal Point Capital Management ULC’s holdings in Invesco QQQ were worth $2,271,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. GenTrust LLC boosted its stake in shares of Invesco QQQ by 8.6% during the 2nd quarter. GenTrust LLC now owns 112,416 shares of the exchange traded fund’s stock valued at $62,080,000 after buying an additional 8,936 shares during the period. Sharper & Granite LLC boosted its stake in shares of Invesco QQQ by 4.4% during the 2nd quarter. Sharper & Granite LLC now owns 8,519 shares of the exchange traded fund’s stock valued at $4,692,000 after buying an additional 359 shares during the period. Moser Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 93 shares during the period. Warburton Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 2nd quarter valued at $218,000. Finally, SoundView Advisors Inc. boosted its stake in shares of Invesco QQQ by 8.8% during the 2nd quarter. SoundView Advisors Inc. now owns 5,767 shares of the exchange traded fund’s stock valued at $3,181,000 after buying an additional 466 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $610.58 on Friday. The firm has a fifty day moving average of $589.82 and a two-hundred day moving average of $544.88. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.