Rockport Wealth LLC has significantly increased its investment in Invesco QQQ, raising its stock position by 14.8% during the third quarter of 2023. According to HoldingsChannel, the firm now owns 7,842 shares of the exchange-traded fund (ETF) after acquiring an additional 1,011 shares during this period. Invesco QQQ now represents approximately 1.0% of Rockport Wealth’s total holdings, ranking as the firm’s 22nd largest investment. The value of these holdings stands at approximately $4,708,000 as of the end of the most recent reporting period.
Several other institutional investors have also adjusted their stakes in Invesco QQQ. Orgel Wealth Management LLC has raised its holdings by 4.7%, now owning 382 shares valued at $229,000 after purchasing an additional 17 shares. Enclave Advisors LLC increased its position by 0.9%, holding 1,831 shares worth $1,099,000 after acquiring another 17 shares. Similarly, IFS Advisors LLC lifted its stake by 4.1%, now possessing 431 shares valued at $259,000 following a purchase of 17 shares.
Mezzasalma Advisors LLC also enhanced its investment in Invesco QQQ by 0.5%, now owning 3,312 shares valued at $1,988,000 after acquiring 17 shares. Finally, TCV Trust & Wealth Management Inc. boosted its holdings by 1.4%, bringing its total to 1,246 shares, worth $748,000 after an additional purchase of 17 shares. Collectively, institutional investors and hedge funds own approximately 44.58% of Invesco QQQ.
Recent Developments Impacting Invesco QQQ
Invesco QQQ has also made headlines with its recent dividend announcement. The company declared a quarterly dividend of $0.7941, which was paid on December 31, 2023. This dividend marks an increase from the previous quarterly payment of $0.69, representing an annualized dividend of $3.18 and a yield of 0.5%. The ex-dividend date for this payment was set for December 22, 2023.
As a prominent player in the investment landscape, Invesco QQQ operates as a unit investment trust, issuing securities known as Nasdaq-100 Index Tracking Stock. Its primary objective is to mirror the performance of the Nasdaq-100 Index, providing investors with an opportunity to gain exposure to a diversified portfolio that includes most of the securities within this index.
For investors looking to track further developments or changes in institutional holdings, resources such as HoldingsChannel.com offer access to the latest 13F filings and insider trades related to Invesco QQQ (NASDAQ:QQQ).
