Redwood Wealth Management Group LLC Boosts Stake in Invesco QQQ $QQQ

by · The Markets Daily

Redwood Wealth Management Group LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 13.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 953 shares of the exchange traded fund’s stock after purchasing an additional 110 shares during the period. Redwood Wealth Management Group LLC’s holdings in Invesco QQQ were worth $526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its position in shares of Invesco QQQ by 704,593.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $2,775,904,000. Altimeter Capital Management LP purchased a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $463,293,000. Finally, Alaska Permanent Fund Corp lifted its position in shares of Invesco QQQ by 14,750.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 799,266 shares of the exchange traded fund’s stock worth $380,027,000 after buying an additional 793,884 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.5%

QQQ stock opened at $629.07 on Friday. The company has a fifty day moving average price of $596.70 and a 200 day moving average price of $553.82. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were paid a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, September 22nd.

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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