Pitti Group Wealth Management LLC Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Pitti Group Wealth Management LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.8% during the second quarter, HoldingsChannel reports. The fund owned 1,311 shares of the exchange traded fund’s stock after acquiring an additional 48 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Invesco QQQ were worth $628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ during the first quarter worth $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter valued at $30,000. Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4 %

Shares of QQQ opened at $473.24 on Tuesday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The company has a 50-day moving average of $469.61 and a 200 day moving average of $457.60.

Invesco QQQ Increases Dividend

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

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.