CMG Global Holdings LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

CMG Global Holdings LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,648 shares of the exchange traded fund’s stock after buying an additional 47 shares during the quarter. Invesco QQQ accounts for approximately 4.3% of CMG Global Holdings LLC’s portfolio, making the stock its 5th biggest holding. CMG Global Holdings LLC’s holdings in Invesco QQQ were worth $6,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atwater Malick LLC bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $293,000. Westwood Holdings Group Inc. boosted its position in shares of Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. GenWealth Group Inc. increased its stake in shares of Invesco QQQ by 5.8% in the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after purchasing an additional 2,325 shares in the last quarter. Socha Financial Group LLC raised its position in shares of Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after purchasing an additional 1,153 shares during the period. Finally, SVB Wealth LLC lifted its stake in shares of Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.6 %

Shares of Invesco QQQ stock opened at $486.75 on Monday. The company has a fifty day moving average of $468.10 and a 200 day moving average of $460.21. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, September 23rd.

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.