Invesco QQQ $QQQ Stock Position Increased by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.5% in the second quarter, Holdings Channel reports. The institutional investor owned 42,303 shares of the exchange traded fund’s stock after acquiring an additional 623 shares during the quarter. Invesco QQQ accounts for approximately 4.8% of Cedar Mountain Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Cedar Mountain Advisors LLC’s holdings in Invesco QQQ were worth $23,336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Wealth Group Ltd. lifted its holdings in shares of Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after buying an additional 4,835 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Invesco QQQ by 7.1% in the first quarter. OLD National Bancorp IN now owns 4,036 shares of the exchange traded fund’s stock valued at $1,893,000 after acquiring an additional 266 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in Invesco QQQ by 22.0% during the first quarter. Capital Investment Advisors LLC now owns 19,250 shares of the exchange traded fund’s stock valued at $9,027,000 after acquiring an additional 3,473 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.8%

Invesco QQQ stock opened at $607.71 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $609.36. The firm’s 50 day simple moving average is $580.65 and its 200 day simple moving average is $533.42.

Invesco QQQ Increases Dividend

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