Tower Wealth Partners Inc. Acquires 337 Shares of Invesco QQQ (NASDAQ:QQQ)

Tower Wealth Partners Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.8% during the second quarter, Holdings Channel.com reports. The fund owned 4,167 shares of the exchange traded fund’s stock after buying an additional 337 shares during the quarter. Invesco QQQ accounts for 1.2% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 14th largest holding. Tower Wealth Partners Inc.’s holdings in Invesco QQQ were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Atwater Malick LLC purchased a new position in Invesco QQQ in the first quarter worth $293,000. Westwood Holdings Group Inc. boosted its holdings in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares in the last quarter. GenWealth Group Inc. increased its position in shares of Invesco QQQ by 5.8% during the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares during the last quarter. Socha Financial Group LLC raised its holdings in shares of Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after buying an additional 1,153 shares in the last quarter. Finally, SVB Wealth LLC lifted its position in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.4 %

Shares of QQQ opened at $473.24 on Tuesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock has a 50 day simple moving average of $469.61 and a two-hundred day simple moving average of $457.60.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a $0.7615 dividend. 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. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%.

About Invesco QQQ

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.