Envestnet Portfolio Solutions Inc. Buys 2,569 Shares of Invesco QQQ (NASDAQ:QQQ)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 87,479 shares of the exchange traded fund’s stock after purchasing an additional 2,569 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Invesco QQQ were worth $41,912,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth about $28,000. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ in the first quarter worth about $29,000. Legacy Bridge LLC lifted its holdings in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Finally, Red Tortoise LLC lifted its holdings in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $0.15 on Wednesday, hitting $462.73. The company had a trading volume of 34,366,583 shares, compared to its average volume of 41,065,219. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The stock has a fifty day simple moving average of $473.90 and a 200-day simple moving average of $451.02.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a $0.7615 dividend. The ex-dividend date of this dividend was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.66%.

Invesco QQQ 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.