Glass Jacobson Investment Advisors llc Grows Position in Invesco QQQ (NASDAQ:QQQ)

Glass Jacobson Investment Advisors llc grew its stake in Invesco QQQ (NASDAQ:QQQ) by 32.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 940 shares of the exchange traded fund’s stock after buying an additional 231 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Invesco QQQ were worth $450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in QQQ. Global Assets Advisory LLC acquired a new stake in Invesco QQQ during the 1st quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% during the first 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 purchasing an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC boosted its position in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Invesco QQQ in the 1st quarter worth approximately $304,591,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $471.44 on Thursday. The company has a 50 day simple moving average of $468.49 and a two-hundred day simple moving average of $457.89. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date 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 yield of 0.65%.

Invesco QQQ 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.