Golden State Wealth Management LLC Has $15.35 Million Position in Invesco QQQ (NASDAQ:QQQ)

Golden State Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 7.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,742 shares of the exchange traded fund’s stock after buying an additional 2,241 shares during the quarter. Invesco QQQ comprises 2.3% of Golden State Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. Golden State Wealth Management LLC’s holdings in Invesco QQQ were worth $15,353,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter worth about $1,018,000. Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ in the fourth quarter worth about $815,000. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $4,623,000. Gemsstock Ltd. grew its position in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock worth $150,046,000 after buying an additional 213,400 shares during the period. Finally, Wescott Financial Advisory Group LLC grew its position in shares of Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock worth $75,071,000 after buying an additional 2,600 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $555.88 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $557.20. The business has a 50-day moving average of $517.86 and a 200-day moving average of $504.61.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

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.