Wealthfront Advisers LLC Increases Stock Position in Invesco QQQ $QQQ

Wealthfront Advisers LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,382 shares of the exchange traded fund’s stock after purchasing an additional 20,637 shares during the quarter. Wealthfront Advisers LLC’s holdings in Invesco QQQ were worth $114,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC boosted its position in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock valued at $1,501,063,000 after buying an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after acquiring an additional 54,944 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.1%

Shares of QQQ stock opened at $617.10 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $618.42. The stock’s 50-day moving average price is $590.61 and its 200-day moving average price is $547.17.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.