Covington Capital Management Raises Stock Holdings in Invesco QQQ Trust (NASDAQ:QQQ)

Covington Capital Management increased its position in Invesco QQQ Trust (NASDAQ:QQQ) by 25.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,042 shares of the exchange traded fund’s stock after purchasing an additional 414 shares during the period. Covington Capital Management’s holdings in Invesco QQQ Trust were worth $724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stewardship Advisors LLC lifted its holdings in Invesco QQQ Trust by 2.4% in the second quarter. Stewardship Advisors LLC now owns 23,537 shares of the exchange traded fund’s stock valued at $8,342,000 after acquiring an additional 549 shares during the period. Clearstead Advisors LLC grew its position in shares of Invesco QQQ Trust by 3.1% during the first quarter. Clearstead Advisors LLC now owns 160,126 shares of the exchange traded fund’s stock worth $51,101,000 after purchasing an additional 4,833 shares in the last quarter. Beacon Financial Advisory LLC grew its position in shares of Invesco QQQ Trust by 4.6% during the second quarter. Beacon Financial Advisory LLC now owns 6,794 shares of the exchange traded fund’s stock worth $2,408,000 after purchasing an additional 301 shares in the last quarter. SageGuard Financial Group LLC grew its position in shares of Invesco QQQ Trust by 34.1% during the first quarter. SageGuard Financial Group LLC now owns 20,197 shares of the exchange traded fund’s stock worth $6,448,000 after purchasing an additional 5,135 shares in the last quarter. Finally, Fort Pitt Capital Group LLC grew its holdings in Invesco QQQ Trust by 29.0% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 4,739 shares of the exchange traded fund’s stock valued at $1,680,000 after buying an additional 1,065 shares in the last quarter. 44.18% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ QQQ opened at $363.67 on Thursday. The business has a 50 day simple moving average of $369.70 and a two-hundred day simple moving average of $351.97. Invesco QQQ Trust has a 1-year low of $266.97 and a 1-year high of $382.78.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Tuesday, September 21st will be issued a dividend of $0.414 per share. This represents a $1.66 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, September 20th. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.40.

Invesco QQQ Trust Company 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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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