Spreng Capital Management Inc. Increases Stake in Invesco QQQ $QQQ

Spreng Capital Management Inc. grew its position in Invesco QQQ (NASDAQ:QQQ) by 47.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,536 shares of the exchange traded fund’s stock after acquiring an additional 491 shares during the quarter. Spreng Capital Management Inc.’s holdings in Invesco QQQ were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Kingstone Capital Partners Texas LLC grew its holdings in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ in the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $603.93 on Friday. The company’s 50-day moving average price is $587.30 and its 200-day moving average price is $540.28. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.