Momentum Wealth Planning LLC Makes New $16.15 Million Investment in Invesco QQQ $QQQ

Momentum Wealth Planning LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,241 shares of the exchange traded fund’s stock, valued at approximately $16,147,000. Invesco QQQ makes up about 13.7% of Momentum Wealth Planning LLC’s investment portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Kingstone Capital Partners Texas LLC boosted its position in Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Invesco QQQ by 100.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,115 shares of the exchange traded fund’s stock valued at $1,167,000 after purchasing an additional 40,999,982 shares during the period. Symphony Financial Ltd. Co. bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $1,236,482,000. HRT Financial LP grew its stake in Invesco QQQ by 118.3% in the second quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund’s stock worth $1,735,226,000 after purchasing an additional 1,704,600 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Invesco QQQ by 42.4% in the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock worth $2,700,424,000 after purchasing an additional 1,457,109 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $610.54 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01. The business has a fifty day simple moving average of $613.69 and a two-hundred day simple moving average of $581.65.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were paid a dividend of $0.694 per share. The ex-dividend date of this dividend was Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%.

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.