Brand Asset Management Group Inc. Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Brand Asset Management Group Inc. grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 26.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,183 shares of the exchange traded fund’s stock after purchasing an additional 250 shares during the period. Brand Asset Management Group Inc.’s holdings in Invesco QQQ were worth $567,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after acquiring an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC bought a new position in Invesco QQQ in the first quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised 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 buying an additional 3,102,568 shares in the last quarter. Granite Bay Wealth Management LLC raised its stake 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 worth $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the first quarter worth approximately $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded up $6.24 during trading hours on Monday, reaching $481.27. The company’s stock had a trading volume of 23,104,023 shares, compared to its average volume of 40,921,672. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock has a 50 day moving average price of $474.69 and a two-hundred day moving average price of $452.36.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date was Monday, June 24th.

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.