Purus Wealth Management LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Purus Wealth Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,575 shares of the exchange traded fund’s stock after acquiring an additional 748 shares during the period. Invesco QQQ accounts for about 1.8% of Purus Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Purus Wealth Management LLC’s holdings in Invesco QQQ were worth $4,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in Invesco QQQ in the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC increased its stake in shares of 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 worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of 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 worth $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC increased its stake in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.1 %

Shares of QQQ opened at $473.49 on Wednesday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The stock has a fifty day simple moving average of $469.12 and a two-hundred day simple moving average of $457.79.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a $0.7615 dividend. The ex-dividend date of this dividend was Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%.

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.