Exchange Traded Concepts LLC Invests $13.29 Million in Invesco QQQ $QQQ

Exchange Traded Concepts LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,095 shares of the exchange traded fund’s stock, valued at approximately $13,292,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $51,000. Blume Capital Management Inc. increased its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC grew its position in Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in Invesco QQQ during the 4th quarter worth approximately $67,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.9%

NASDAQ QQQ opened at $595.32 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $598.14. The firm has a 50-day simple moving average of $571.28 and a 200 day simple moving average of $522.90.

Invesco QQQ Cuts Dividend

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

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.