Linscomb Wealth Inc. Boosts Position in Invesco QQQ (NASDAQ:QQQ)

Linscomb Wealth Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,802 shares of the exchange traded fund’s stock after purchasing an additional 726 shares during the quarter. Linscomb Wealth Inc.’s holdings in Invesco QQQ were worth $4,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at about $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the 4th quarter valued at about $57,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.9%

NASDAQ QQQ opened at $574.55 on Monday. The stock has a 50-day moving average of $549.00 and a two-hundred day moving average of $512.09. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.77.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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.