Redmond Asset Management LLC Makes New Investment in Invesco QQQ $QQQ

Redmond Asset Management LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 401 shares of the exchange traded fund’s stock, valued at approximately $221,000.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Morgan Dempsey Capital Management LLC bought a new position in shares of Invesco QQQ in the 2nd quarter worth about $30,000. Marshall & Sullivan Inc. WA bought a new position in shares of Invesco QQQ in the 2nd quarter worth about $41,000. Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the last quarter. Moser Wealth Advisors LLC lifted its position in shares of Invesco QQQ by 930.0% in the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 93 shares during the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in shares of 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 buying an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $632.92 on Wednesday. The firm’s 50-day moving average is $592.90 and its 200-day moving average is $550.17. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $634.68.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.