Clay Northam Wealth Management LLC Invests $214,000 in Invesco QQQ (NASDAQ:QQQ)

Clay Northam Wealth Management LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 447 shares of the exchange traded fund’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Atwater Malick LLC acquired a new stake in Invesco QQQ in the first quarter worth approximately $293,000. Westwood Holdings Group Inc. lifted its position in Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. Aviance Capital Partners LLC lifted its position in Invesco QQQ by 29.7% in the fourth quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock worth $1,848,000 after purchasing an additional 1,033 shares during the period. GenWealth Group Inc. lifted its position in Invesco QQQ by 5.8% in the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after purchasing an additional 2,325 shares during the period. Finally, Fiera Capital Corp lifted its position in Invesco QQQ by 1.7% in the fourth quarter. Fiera Capital Corp now owns 656,835 shares of the exchange traded fund’s stock worth $268,987,000 after purchasing an additional 11,013 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $0.61 during trading on Friday, hitting $475.03. The company had a trading volume of 38,383,623 shares, compared to its average volume of 46,987,124. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The business’s 50-day moving average is $474.36 and its 200 day moving average is $451.94.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, June 24th.

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.