Fairway Wealth LLC Has $4.13 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Fairway Wealth LLC increased its stake in Invesco QQQ (NASDAQ:QQQ) by 65.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,628 shares of the exchange traded fund’s stock after purchasing an additional 3,428 shares during the quarter. Invesco QQQ makes up 2.4% of Fairway Wealth LLC’s investment portfolio, making the stock its 16th largest holding. Fairway Wealth LLC’s holdings in Invesco QQQ were worth $4,134,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Global Assets Advisory LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC grew its holdings in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock worth $1,219,115,000 after buying an additional 64,401 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Invesco QQQ by 10.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock worth $1,073,929,000 after buying an additional 206,608 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.4 %

Shares of QQQ stock 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 firm’s fifty day simple moving average is $469.61 and its 200 day simple moving average is $457.60.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. 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%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57.

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.