Granite Bay Wealth Management LLC Has $409.51 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Granite Bay Wealth Management LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 6,215.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 908,924 shares of the exchange traded fund’s stock after purchasing an additional 894,532 shares during the period. Invesco QQQ comprises approximately 13.8% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Granite Bay Wealth Management LLC owned 0.15% of Invesco QQQ worth $409,513,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atwater Malick LLC acquired a new position in shares of Invesco QQQ during the first quarter worth $293,000. Westwood Holdings Group Inc. increased its holdings 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 buying an additional 1,993 shares in the last quarter. GenWealth Group Inc. increased its holdings in shares of Invesco QQQ by 5.8% during the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after buying an additional 2,325 shares in the last quarter. Socha Financial Group LLC increased its holdings in Invesco QQQ by 1.3% in the first 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 during the period. Finally, SVB Wealth LLC increased its holdings in Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $488.07 on Tuesday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock has a fifty day simple moving average of $468.22 and a 200 day simple moving average of $460.55.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.