KFG Wealth Management LLC Has $15.70 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

KFG Wealth Management LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,365 shares of the exchange traded fund’s stock after selling 1,990 shares during the period. Invesco QQQ makes up about 6.5% of KFG Wealth Management LLC’s investment portfolio, making the stock its 2nd largest position. KFG Wealth Management LLC’s holdings in Invesco QQQ were worth $15,703,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of QQQ. Gotham Asset Management LLC raised its position in shares of Invesco QQQ by 2.2% during the 3rd quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock valued at $1,936,000 after buying an additional 115 shares in the last quarter. Lazard Asset Management LLC increased its stake in Invesco QQQ by 46.2% during the third quarter. Lazard Asset Management LLC now owns 16,155 shares of the exchange traded fund’s stock worth $5,787,000 after acquiring an additional 5,105 shares during the last quarter. Ellerson Group Inc. ADV raised its position in Invesco QQQ by 0.5% during the third quarter. Ellerson Group Inc. ADV now owns 7,749 shares of the exchange traded fund’s stock valued at $2,776,000 after purchasing an additional 39 shares during the period. Elevatus Welath Management lifted its stake in shares of Invesco QQQ by 120.5% in the 3rd quarter. Elevatus Welath Management now owns 1,951 shares of the exchange traded fund’s stock valued at $699,000 after purchasing an additional 1,066 shares during the last quarter. Finally, EHP Funds Inc. boosted its holdings in shares of Invesco QQQ by 174.4% in the 3rd quarter. EHP Funds Inc. now owns 69,700 shares of the exchange traded fund’s stock worth $24,971,000 after purchasing an additional 44,300 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $491.04 on Thursday. The business’s 50 day moving average price is $457.35 and its 200-day moving average price is $437.90. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $491.17.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be given a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.62%.

About Invesco QQQ

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.