Lloyd Advisory Services Invests Over $1.5 Million in Invesco QQQ

Lloyd Advisory Services LLC has made a significant investment in Invesco QQQ, acquiring a new stake during the third quarter of 2023. The firm disclosed to the Securities and Exchange Commission that it purchased 2,565 shares of the exchange-traded fund, valued at approximately $1,540,000. This investment now constitutes about 0.7% of Lloyd Advisory Services’ total portfolio, ranking it as the firm’s 29th largest position.

A number of other institutional investors have also adjusted their holdings in Invesco QQQ. For instance, Orgel Wealth Management LLC increased its stake by 4.7% during the same quarter, now owning 382 shares valued at $229,000 after acquiring an additional 17 shares. Enclave Advisors LLC similarly boosted its position by 0.9%, bringing its total to 1,831 shares worth $1,099,000 after a similar purchase.

Additionally, IFS Advisors LLC enhanced its stake by 4.1%, now holding 431 shares valued at $259,000. Meanwhile, Mezzasalma Advisors LLC reported a 0.5% increase in its holdings, reaching a total of 3,312 shares worth $1,988,000. Lastly, TCV Trust & Wealth Management Inc. raised its holdings by 1.4%, now possessing 1,246 shares valued at $748,000. Currently, institutional investors own approximately 44.58% of Invesco QQQ.

Recent Dividend Announcement

Invesco QQQ has also made headlines with its recent dividend declaration. The company announced a quarterly dividend of $0.7941, which was paid on December 31, 2023. Investors on record as of December 22, 2023 received this payment, with the ex-dividend date also falling on December 22. This increase from the previous quarterly dividend of $0.69 translates to an annualized dividend of $3.18 and a yield of 0.5%.

Understanding Invesco QQQ

The PowerShares QQQ Trust, Series 1, which operates under Invesco QQQ, is a unit investment trust designed to track the performance of the Nasdaq-100 Index. Its primary objective is to provide investment results that closely correspond to the price and yield performance of this index. Investors can purchase units representing proportionate undivided interests in the portfolio, which includes nearly all the securities of the Nasdaq-100 Index, maintaining similar weightings.

As institutional interest in Invesco QQQ grows, the investment community closely monitors its performance and dividend announcements, which could signal future trends in the market.