ODonnell Financial Services LLC Invests $14 Million in Invesco QQQ $QQQ

ODonnell Financial Services LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,319 shares of the exchange traded fund’s stock, valued at approximately $14,000,000. Invesco QQQ comprises about 5.0% of ODonnell Financial Services LLC’s investment portfolio, making the stock its 7th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Orgel Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 4.7% in the 3rd quarter. Orgel Wealth Management LLC now owns 382 shares of the exchange traded fund’s stock worth $229,000 after acquiring an additional 17 shares in the last quarter. Enclave Advisors LLC boosted its stake in Invesco QQQ by 0.9% in the third quarter. Enclave Advisors LLC now owns 1,831 shares of the exchange traded fund’s stock worth $1,099,000 after purchasing an additional 17 shares in the last quarter. IFS Advisors LLC boosted its stake in Invesco QQQ by 4.1% in the third quarter. IFS Advisors LLC now owns 431 shares of the exchange traded fund’s stock worth $259,000 after purchasing an additional 17 shares in the last quarter. Mezzasalma Advisors LLC grew its holdings in shares of Invesco QQQ by 0.5% during the third quarter. Mezzasalma Advisors LLC now owns 3,312 shares of the exchange traded fund’s stock worth $1,988,000 after purchasing an additional 17 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its stake in shares of Invesco QQQ by 1.4% in the third quarter. TCV Trust & Wealth Management Inc. now owns 1,246 shares of the exchange traded fund’s stock valued at $748,000 after buying an additional 17 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ opened at $603.47 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01. The firm has a 50-day moving average price of $616.50 and a two-hundred day moving average price of $604.61.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $0.7941 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.18 annualized dividend and a dividend yield of 0.5%.

Invesco QQQ Company 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.