Foster & Motley Inc. Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Foster & Motley Inc. grew its stake in Invesco QQQ (NASDAQ:QQQ) by 10.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 709 shares of the exchange traded fund’s stock after buying an additional 65 shares during the period. Foster & Motley Inc.’s holdings in Invesco QQQ were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vantage Financial Partners LLC increased its stake in shares of Invesco QQQ by 68.0% in the fourth quarter. Vantage Financial Partners LLC now owns 29,550 shares of the exchange traded fund’s stock worth $12,101,000 after acquiring an additional 11,957 shares during the period. Natixis Advisors L.P. increased its holdings in Invesco QQQ by 17.4% in the fourth quarter. Natixis Advisors L.P. now owns 18,927 shares of the exchange traded fund’s stock valued at $7,751,000 after buying an additional 2,809 shares in the last quarter. Concentrum Wealth Management increased its holdings in Invesco QQQ by 15.4% in the fourth quarter. Concentrum Wealth Management now owns 14,662 shares of the exchange traded fund’s stock valued at $6,004,000 after buying an additional 1,962 shares in the last quarter. Rollins Financial increased its holdings in Invesco QQQ by 11.8% in the fourth quarter. Rollins Financial now owns 187,590 shares of the exchange traded fund’s stock valued at $76,822,000 after buying an additional 19,785 shares in the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in Invesco QQQ by 30.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,047 shares of the exchange traded fund’s stock valued at $1,248,000 after buying an additional 706 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.7 %

QQQ opened at $448.69 on Friday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company has a fifty day moving average of $472.43 and a two-hundred day moving average of $455.91.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.68%.

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.