Advisors Capital Management LLC has significantly increased its investment in Invesco QQQ (NASDAQ:QQQ), boosting its position by 24.5% during the second quarter, as noted in the company’s latest filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 3,191 shares, Advisors Capital Management LLC now holds a total of 16,225 shares of the exchange-traded fund, valued at approximately $8.95 million.
This move reflects a broader trend among large investors, with several firms recently adjusting their holdings in Invesco QQQ. Brighton Jones LLC enhanced its stake by 15% in the last quarter, bringing its ownership to 38,348 shares, worth about $19.6 million. Similarly, Revolve Wealth Partners LLC increased its investment by 3.5%, now owning 5,257 shares valued at $2.69 million. Wealth Group Ltd. and Graypoint LLC also made significant adjustments to their positions in the first quarter, raising their stakes considerably. Notably, institutional investors and hedge funds collectively own about 44.58% of Invesco QQQ’s stock.
On the trading front, Invesco QQQ saw a slight increase of 0.1%, opening at $608.86. The fund’s fifty-day moving average price stands at $605.86, while its two-hundred-day moving average is $564.57. Over the past year, Invesco QQQ has experienced fluctuations, with a low of $402.39 and a high of $637.01.
In addition to its investment activities, Invesco QQQ recently announced an increase in its quarterly dividend. On October 31, the company paid a dividend of $0.694 to shareholders who were on record as of September 22. This marks an increase from its previous dividend of $0.59, resulting in an annualized dividend of $2.78, representing a yield of 0.5%.
Invesco QQQ, managed as PowerShares QQQ Trust, Series 1, is focused on delivering investment results that correspond to the performance of the Nasdaq-100 Index. The trust allows investors to buy units of beneficial interest that represent undivided interests in a portfolio of securities.
This latest activity highlights the sustained interest and confidence that institutional investors have in Invesco QQQ, suggesting a positive outlook for the fund amid a dynamic market environment.