Kingsview Wealth Management LLC has boosted its stake in Invesco QQQ (NASDAQ: QQQ) by 7.2% during the second quarter, according to a recent filing with the SEC. The firm now holds 105,819 shares, having acquired an additional 7,072 shares in the quarter. Invesco QQQ accounts for 1.0% of Kingsview’s total investments, ranking as its 17th largest position, valued at $58,374,000.
Several other major investors have also adjusted their holdings in Invesco QQQ. Notably, Hedeker Wealth LLC entered a new investment during the second quarter worth around $200,000, while Cercano Management LLC added a significant stake of approximately $41,409,000. Avantax Advisory Services Inc. has increased its position in the ETF by 4.2%, now owning 489,209 shares valued at $269,867,000 after buying an additional 19,531 shares. Glaxis Capital Management LLC made a new investment of $8,275,000, and JBF Capital Inc. acquired $25,375,000 worth of shares. Currently, institutional investors hold about 44.58% of Invesco QQQ’s stock.
Invesco QQQ’s stock opened at $608.86 on Friday, with its 50-day simple moving average at $605.86 and a two-hundred day average of $565.19. The stock has experienced a fifty-two week low of $402.39 and a high of $637.01.
The company also announced a quarterly dividend recently, which was paid out on October 31. Shareholders who were on record as of September 22 received a dividend of $0.694 per share, with an ex-dividend date of the same day. This marks an increase from the previous quarterly dividend of $0.59, resulting in an annualized dividend of $2.78 and a yield of 0.5%.
Invesco QQQ, a unit investment trust, aims to reflect the price and yield performance of the Nasdaq-100 Index. It allows investors to acquire shares that correspond with the index’s component securities, enhancing the ability to invest in a diversified portfolio.
This information underscores the ongoing interest in Invesco QQQ among institutional investors and signals confidence in its future performance. The increase in dividends also reflects the firm’s solid financial standing, offering a positive outlook for current and potential shareholders.