Tower Wealth Partners Inc. Buys 337 Shares of Invesco QQQ (NASDAQ:QQQ)

Tower Wealth Partners Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,167 shares of the exchange traded fund’s stock after acquiring an additional 337 shares during the quarter. Invesco QQQ makes up 1.2% of Tower Wealth Partners Inc.’s holdings, making the stock its 14th biggest position. Tower Wealth Partners Inc.’s holdings in Invesco QQQ were worth $1,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth about $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Legacy Bridge LLC lifted its stake in shares of Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ during the 4th quarter valued at $35,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $473.24 on Tuesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock’s fifty day moving average price is $469.61 and its two-hundred day moving average price is $457.60.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.64%.

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.