SignalPoint Asset Management LLC Boosts Stake in Invesco QQQ Trust (NASDAQ:QQQ)

SignalPoint Asset Management LLC increased its stake in shares of Invesco QQQ Trust (NASDAQ:QQQGet Rating) by 14.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,990 shares of the exchange traded fund’s stock after purchasing an additional 909 shares during the period. Invesco QQQ Trust makes up approximately 0.8% of SignalPoint Asset Management LLC’s investment portfolio, making the stock its 27th largest position. SignalPoint Asset Management LLC’s holdings in Invesco QQQ Trust were worth $2,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QQQ. Avantax Planning Partners Inc. boosted its position in Invesco QQQ Trust by 7.8% in the 1st quarter. Avantax Planning Partners Inc. now owns 11,478 shares of the exchange traded fund’s stock valued at $4,161,000 after buying an additional 826 shares during the period. Wealthspire Advisors LLC boosted its position in Invesco QQQ Trust by 54.9% in the 1st quarter. Wealthspire Advisors LLC now owns 19,842 shares of the exchange traded fund’s stock valued at $7,193,000 after buying an additional 7,029 shares during the period. Fort Sheridan Advisors LLC boosted its position in Invesco QQQ Trust by 10.9% in the 1st quarter. Fort Sheridan Advisors LLC now owns 3,064 shares of the exchange traded fund’s stock valued at $1,111,000 after buying an additional 301 shares during the period. Capital Advisors Ltd. LLC boosted its position in Invesco QQQ Trust by 0.4% in the 1st quarter. Capital Advisors Ltd. LLC now owns 21,248 shares of the exchange traded fund’s stock valued at $7,703,000 after buying an additional 84 shares during the period. Finally, Lake Street Financial LLC boosted its position in Invesco QQQ Trust by 12.5% in the 1st quarter. Lake Street Financial LLC now owns 31,339 shares of the exchange traded fund’s stock valued at $11,362,000 after buying an additional 3,494 shares during the period. Hedge funds and other institutional investors own 42.74% of the company’s stock.

Invesco QQQ Trust Stock Performance

QQQ stock traded down $2.65 during midday trading on Friday, hitting $321.75. The company’s stock had a trading volume of 53,893,972 shares, compared to its average volume of 56,372,556. Invesco QQQ Trust has a 52-week low of $269.28 and a 52-week high of $408.71. The firm has a 50-day simple moving average of $295.77 and a 200-day simple moving average of $322.51.

Invesco QQQ Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Wednesday, June 22nd were given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, June 21st. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.43.

Invesco QQQ Trust Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQGet Rating).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.