SCS Capital Management LLC Boosts Holdings in Invesco QQQ $QQQ

SCS Capital Management LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,970 shares of the exchange traded fund’s stock after purchasing an additional 2,965 shares during the period. SCS Capital Management LLC’s holdings in Invesco QQQ were worth $28,128,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ in the second quarter worth $30,000. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ during the 2nd quarter worth about $41,000. Moser Wealth Advisors LLC increased its position in Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 93 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Invesco QQQ in the 1st quarter valued at about $70,000. Finally, Barrett & Company Inc. raised its stake in Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after purchasing an additional 20 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.1%

Invesco QQQ stock opened at $622.94 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01. The firm’s 50-day moving average is $610.95 and its two-hundred day moving average is $575.62.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.