Invesco QQQ (NASDAQ:QQQ) is Clearstead Trust LLC’s Largest Position

Clearstead Trust LLC increased its position in Invesco QQQ (NASDAQ:QQQ) by 1.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 138,186 shares of the exchange traded fund’s stock after purchasing an additional 1,712 shares during the period. Invesco QQQ makes up 16.5% of Clearstead Trust LLC’s holdings, making the stock its biggest holding. Clearstead Trust LLC’s holdings in Invesco QQQ were worth $66,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC boosted its holdings in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the 1st quarter worth $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.4 %

NASDAQ:QQQ opened at $473.24 on Tuesday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The company has a 50-day moving average price of $469.61 and a 200-day moving average price of $457.60.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a yield of 0.64%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th.

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.