Somerset Group LLC Has $6.80 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Somerset Group LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,189 shares of the exchange traded fund’s stock after acquiring an additional 739 shares during the quarter. Invesco QQQ comprises about 6.0% of Somerset Group LLC’s investment portfolio, making the stock its 4th biggest holding. Somerset Group LLC’s holdings in Invesco QQQ were worth $6,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Concorde Asset Management LLC boosted its stake in shares of Invesco QQQ by 16.0% during the 2nd quarter. Concorde Asset Management LLC now owns 20,639 shares of the exchange traded fund’s stock worth $9,890,000 after acquiring an additional 2,852 shares in the last quarter. WCG Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ by 4.5% during the second quarter. WCG Wealth Advisors LLC now owns 20,141 shares of the exchange traded fund’s stock valued at $9,650,000 after purchasing an additional 867 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its position in shares of Invesco QQQ by 32.6% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 940 shares of the exchange traded fund’s stock valued at $450,000 after purchasing an additional 231 shares during the period. Garner Asset Management Corp boosted its position in shares of Invesco QQQ by 6.4% in the 2nd quarter. Garner Asset Management Corp now owns 19,989 shares of the exchange traded fund’s stock valued at $9,577,000 after purchasing an additional 1,200 shares during the period. Finally, Carolinas Wealth Consulting LLC increased its stake in Invesco QQQ by 3.8% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 3,281 shares of the exchange traded fund’s stock worth $1,572,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4 %

QQQ stock opened at $471.44 on Thursday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The firm has a 50-day moving average of $468.49 and a two-hundred day moving average of $457.89.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a $0.7615 dividend. This represents a $3.05 annualized dividend and a dividend yield of 0.65%. 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.