IMG Wealth Management Inc. Has $6.96 Million Stake in Invesco QQQ $QQQ

IMG Wealth Management Inc. lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 12,607 shares of the exchange traded fund’s stock after purchasing an additional 399 shares during the period. Invesco QQQ makes up approximately 5.4% of IMG Wealth Management Inc.’s investment portfolio, making the stock its 5th biggest holding. IMG Wealth Management Inc.’s holdings in Invesco QQQ were worth $6,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GSG Advisors LLC boosted its holdings in Invesco QQQ by 8.2% during the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after purchasing an additional 585 shares during the last quarter. Amundi boosted its holdings in Invesco QQQ by 6.3% during the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock worth $49,980,000 after purchasing an additional 6,600 shares during the last quarter. Jackson Wealth Management LLC boosted its holdings in Invesco QQQ by 8.6% during the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock worth $9,428,000 after purchasing an additional 1,586 shares during the last quarter. Greykasell Wealth Strategies Inc. boosted its holdings in Invesco QQQ by 8.4% during the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock worth $3,649,000 after purchasing an additional 605 shares during the last quarter. Finally, AM Investment Strategies LLC boosted its holdings in Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock worth $904,000 after purchasing an additional 612 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $611.54 on Tuesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18. The firm’s 50-day simple moving average is $588.07 and its 200 day simple moving average is $542.68.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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.