Fiduciary Alliance LLC Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Fiduciary Alliance LLC increased its stake in Invesco QQQ (NASDAQ:QQQ) by 101.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,836 shares of the exchange traded fund’s stock after buying an additional 2,934 shares during the quarter. Fiduciary Alliance LLC’s holdings in Invesco QQQ were worth $2,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ in the first quarter valued at $29,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ in the 4th quarter valued at about $35,000. Red Tortoise LLC lifted its holdings in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the last quarter. Robinson Capital Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $40,000. Finally, Friedenthal Financial bought a new position in Invesco QQQ during the fourth quarter worth about $41,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.5 %

QQQ opened at $479.11 on Monday. The firm has a 50-day moving average price of $454.85 and a 200-day moving average price of $436.77. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $487.20.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a 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.