Covenant Asset Management LLC Acquires 29 Shares of Invesco QQQ (NASDAQ:QQQ)

Covenant Asset Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,641 shares of the exchange traded fund’s stock after purchasing an additional 29 shares during the quarter. Covenant Asset Management LLC’s holdings in Invesco QQQ were worth $2,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Castle Rock Wealth Management LLC lifted its holdings in Invesco QQQ by 0.3% during the second quarter. Castle Rock Wealth Management LLC now owns 8,722 shares of the exchange traded fund’s stock valued at $3,229,000 after purchasing an additional 29 shares in the last quarter. GoalVest Advisory LLC lifted its stake in shares of Invesco QQQ by 19.5% in the first quarter. GoalVest Advisory LLC now owns 202 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 33 shares in the last quarter. Carlson Capital Management lifted its stake in shares of Invesco QQQ by 1.6% in the first quarter. Carlson Capital Management now owns 2,117 shares of the exchange traded fund’s stock worth $679,000 after buying an additional 34 shares in the last quarter. J. L. Bainbridge & Co. Inc. lifted its stake in shares of Invesco QQQ by 1.4% in the first quarter. J. L. Bainbridge & Co. Inc. now owns 2,471 shares of the exchange traded fund’s stock worth $793,000 after buying an additional 34 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY lifted its stake in shares of Invesco QQQ by 1.6% in the first quarter. Matrix Asset Advisors Inc. NY now owns 2,188 shares of the exchange traded fund’s stock worth $702,000 after buying an additional 35 shares in the last quarter. 43.95% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded down $2.56 during midday trading on Tuesday, hitting $368.10. The company’s stock had a trading volume of 9,599,187 shares, compared to its average volume of 53,370,789. The business’s 50 day simple moving average is $373.20 and its 200 day simple moving average is $348.47. Invesco QQQ has a 12-month low of $254.26 and a 12-month high of $387.98.

Invesco QQQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 19th will be paid a $0.5389 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Monday, September 18th.

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.