Verus Capital Partners LLC Grows Stock Holdings in Invesco QQQ $QQQ

by · The Markets Daily

Verus Capital Partners LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ – Free Report) by 26.1% in the third quarter, HoldingsChannel reports. The firm owned 27,771 shares of the exchange traded fund’s stock after acquiring an additional 5,741 shares during the period. Invesco QQQ makes up approximately 1.2% of Verus Capital Partners LLC’s holdings, making the stock its 11th largest holding. Verus Capital Partners LLC’s holdings in Invesco QQQ were worth $16,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. JPMorgan Chase & Co. lifted its holdings in Invesco QQQ by 42.4% in the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock valued at $2,700,424,000 after acquiring an additional 1,457,109 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco QQQ by 0.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,223,327 shares of the exchange traded fund’s stock valued at $1,778,116,000 after purchasing an additional 22,220 shares during the last quarter. HRT Financial LP lifted its stake in shares of Invesco QQQ by 118.3% in the 2nd quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund’s stock worth $1,735,226,000 after purchasing an additional 1,704,600 shares during the period. PNC Financial Services Group Inc. grew its position in Invesco QQQ by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund’s stock valued at $1,843,749,000 after buying an additional 8,038 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Invesco QQQ by 2.2% during the third quarter. Envestnet Asset Management Inc. now owns 2,986,326 shares of the exchange traded fund’s stock valued at $1,792,901,000 after buying an additional 64,025 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.9%

QQQ opened at $608.81 on Monday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01. The firm’s 50 day simple moving average is $616.41 and its two-hundred day simple moving average is $605.50.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.7941 per share. This represents a $3.18 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, December 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.69.

Invesco QQQ Profile

(Free Report)

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.

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