Accelerate Investment Advisors LLC Increases Stock Position in Invesco QQQ $QQQ

Accelerate Investment Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 31.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 963 shares of the exchange traded fund’s stock after buying an additional 231 shares during the period. Accelerate Investment Advisors LLC’s holdings in Invesco QQQ were worth $531,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $51,000. Blume Capital Management Inc. lifted its holdings in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC lifted its holdings in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC acquired a new position in shares of Invesco QQQ during the 4th quarter valued at $67,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $586.66 on Friday. The firm’s fifty day simple moving average is $568.24 and its 200 day simple moving average is $520.54. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $587.86.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.