Invesco QQQ (NASDAQ:QQQ) Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,694 shares of the exchange traded fund’s stock after buying an additional 21,369 shares during the period. Invesco QQQ accounts for approximately 3.9% of Belpointe Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Belpointe Asset Management LLC’s holdings in Invesco QQQ were worth $55,431,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in QQQ. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ during the 1st quarter worth approximately $29,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $30,000. Legacy Bridge LLC boosted its position in shares of Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $1.61 during mid-day trading on Wednesday, reaching $463.42. 13,428,084 shares of the company were exchanged, compared to its average volume of 40,347,012. The firm’s 50-day simple moving average is $473.84 and its 200 day simple moving average is $455.72. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Increases Dividend

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

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.