Fairway Wealth LLC Increases Holdings in Invesco QQQ

Fairway Wealth LLC has reported a significant increase in its holdings of shares in Invesco QQQ (NASDAQ:QQQ). In its latest disclosure to the Securities and Exchange Commission, the company revealed that its investment in this exchange-traded fund grew by 35.8% during the third quarter of the year. After acquiring an additional 3,092 shares, Fairway Wealth LLC now owns a total of 11,720 shares in Invesco QQQ. This stock now constitutes approximately 2.5% of the firm's overall investment portfolio, ranking as the company's 15th largest position.

As of the most recent SEC filing, Fairway Wealth LLC's holdings in Invesco QQQ are valued at $5,720,000.

Institutional Investor Activity

Several other institutional investors and hedge funds have also made adjustments to their positions in Invesco QQQ. For instance, International Assets Investment Management LLC significantly increased its holdings by an astonishing 46,491.6% in the third quarter. The firm now owns 32,586,150 shares, amounting to a value of $15,904,322,000, following the purchase of 32,516,210 additional shares last quarter.

Another firm, Steel Grove Capital Advisors LLC, expanded its stake in Invesco QQQ by 934.0% during the first quarter, now holding 3,434,759 shares worth $1,525,067,000 after acquiring an extra 3,102,568 shares.

During the second quarter, Strategic Financial Concepts LLC also increased its holdings by a staggering 18,691.3%, purchasing an additional 2,762,571 shares to bring its total to 2,777,351 shares, valued at $13,307,000.

Granite Bay Wealth Management LLC raised its shares of Invesco QQQ by 6,215.5% during the same period, ending up with 908,924 shares valued at $409,513,000. Furthermore, Harvard Management Co. Inc. acquired a new stake valued at approximately $304,591,000 during the first quarter.

Overall, institutional investors currently hold around 44.58% of the shares in Invesco QQQ.

Invesco QQQ Market Performance

On the trading floor, shares of NASDAQ QQQ opened at $514.14. The 50-day moving average price stands at $484.62, while the 200-day moving average price is $471.30. Invesco QQQ has fluctuated significantly in the past year; its 52-week low was recorded at $369.57, while the 52-week high reached $514.92.

Dividend Information

Recently, Invesco QQQ also announced a quarterly dividend, which was paid out on October 31st. Shareholders who were on record as of September 23rd received a dividend of $0.677. The ex-dividend date was also September 23rd. This leads to an annualized dividend total of $2.71 and a yield of 0.53%.

Understanding Invesco QQQ

Invesco QQQ Trust, Series 1 is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The primary aim of the Trust is to deliver investment results that closely correspond with the price and yield performance of the Nasdaq-100 Index. It gives investors the chance to purchase beneficial interest units representing proportionate undivided interests in the portfolio of securities that the Trust holds, mirroring the component securities of the Nasdaq-100 Index in similar weighting.

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