Concorde Asset Management LLC Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Concorde Asset Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 16.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,639 shares of the exchange traded fund’s stock after purchasing an additional 2,852 shares during the period. Invesco QQQ makes up about 6.1% of Concorde Asset Management LLC’s holdings, making the stock its 3rd biggest position. Concorde Asset Management LLC’s holdings in Invesco QQQ were worth $9,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atwater Malick LLC bought a new stake in Invesco QQQ in the 1st quarter valued at about $293,000. Westwood Holdings Group Inc. raised its position in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. GenWealth Group Inc. grew its position in Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares during the period. Socha Financial Group LLC increased its stake in Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after purchasing an additional 1,153 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $471.44 on Thursday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company’s 50-day moving average is $468.49 and its 200 day moving average is $457.89.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.