Novare Capital Management LLC Purchases 6,960 Shares of Invesco QQQ (NASDAQ:QQQ)

Novare Capital Management LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 304.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,246 shares of the exchange traded fund's stock after acquiring an additional 6,960 shares during the period. Novare Capital Management LLC's holdings in Invesco QQQ were worth $4,430,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Western Trust Bank purchased a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $201,000. Vantage Financial Partners LLC raised its position in Invesco QQQ by 68.0% in the 4th quarter. Vantage Financial Partners LLC now owns 29,550 shares of the exchange traded fund's stock valued at $12,101,000 after buying an additional 11,957 shares during the last quarter. Natixis Advisors L.P. lifted its stake in Invesco QQQ by 17.4% during the 4th quarter. Natixis Advisors L.P. now owns 18,927 shares of the exchange traded fund's stock valued at $7,751,000 after acquiring an additional 2,809 shares in the last quarter. Concentrum Wealth Management boosted its holdings in Invesco QQQ by 15.4% during the 4th quarter. Concentrum Wealth Management now owns 14,662 shares of the exchange traded fund's stock worth $6,004,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Rollins Financial grew its stake in shares of Invesco QQQ by 11.8% in the 4th quarter. Rollins Financial now owns 187,590 shares of the exchange traded fund's stock worth $76,822,000 after acquiring an additional 19,785 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 3.0 %

Shares of QQQ traded down $14.46 during trading hours on Tuesday, reaching $461.81. 44,112,895 shares of the stock traded hands, compared to its average volume of 40,511,609. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The stock has a fifty day simple moving average of $474.19 and a 200 day simple moving average of $455.50.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were issued a dividend of $0.7615 per share. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Monday, June 24th.

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.