Beacon Capital Management Inc. Has $100.57 Million Stake in Invesco QQQ $QQQ

Beacon Capital Management Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,313 shares of the exchange traded fund’s stock after purchasing an additional 1,766 shares during the period. Invesco QQQ accounts for about 5.2% of Beacon Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Beacon Capital Management Inc.’s holdings in Invesco QQQ were worth $100,571,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Q3 Asset Management bought a new position in Invesco QQQ during the 2nd quarter valued at $6,454,000. American Trust boosted its stake in Invesco QQQ by 7,093.8% during the second quarter. American Trust now owns 42,947 shares of the exchange traded fund’s stock valued at $23,692,000 after buying an additional 42,350 shares in the last quarter. FSC Wealth Advisors LLC boosted its stake in Invesco QQQ by 1.5% during the second quarter. FSC Wealth Advisors LLC now owns 6,498 shares of the exchange traded fund’s stock valued at $3,585,000 after buying an additional 98 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in Invesco QQQ during the second quarter worth about $1,174,000. Finally, Centaurus Financial Inc. raised its position in Invesco QQQ by 2.5% in the second quarter. Centaurus Financial Inc. now owns 53,057 shares of the exchange traded fund’s stock worth $29,268,000 after acquiring an additional 1,314 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $613.62 on Monday. The firm has a 50-day moving average of $613.64 and a two-hundred day moving average of $581.01. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were issued a dividend of $0.694 per share. The ex-dividend date was Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.