Retirement Planning Group LLC Has $21.19 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Retirement Planning Group LLC raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ – Free Report) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,416 shares of the exchange traded fund’s stock after buying an additional 12,458 shares during the quarter. Invesco QQQ comprises 1.2% of Retirement Planning Group LLC’s investment portfolio, making the stock its 22nd largest holding. Retirement Planning Group LLC’s holdings in Invesco QQQ were worth $21,190,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QQQ. Ameriprise Financial Inc. boosted its stake in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Invesco QQQ in the first quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC raised its position in Invesco QQQ by 934.0% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in 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. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.2 %

Shares of QQQ stock opened at $493.36 on Friday. The stock’s fifty day simple moving average is $472.55 and its 200 day simple moving average is $463.27. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company Profile

(Free Report)

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.

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