Invesco QQQ (NASDAQ:QQQ) Position Increased by Financial Partners Group LLC

Financial Partners Group LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 11.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,465 shares of the exchange traded fund’s stock after buying an additional 251 shares during the period. Financial Partners Group LLC’s holdings in Invesco QQQ were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of QQQ. Natixis Advisors L.P. lifted its position in shares of Invesco QQQ by 26.9% in the third quarter. Natixis Advisors L.P. now owns 16,118 shares of the exchange traded fund’s stock worth $5,775,000 after purchasing an additional 3,418 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Invesco QQQ by 2.2% in the third quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock worth $1,936,000 after purchasing an additional 115 shares in the last quarter. First Business Financial Services Inc. increased its holdings in Invesco QQQ by 36.2% in the third quarter. First Business Financial Services Inc. now owns 895 shares of the exchange traded fund’s stock worth $321,000 after buying an additional 238 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Invesco QQQ by 2.2% in the third quarter. Jones Financial Companies Lllp now owns 2,511 shares of the exchange traded fund’s stock worth $900,000 after buying an additional 55 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Invesco QQQ by 46.2% in the third quarter. Lazard Asset Management LLC now owns 16,155 shares of the exchange traded fund’s stock worth $5,787,000 after buying an additional 5,105 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $479.11 on Monday. The stock’s 50 day moving average price is $454.85 and its 200 day moving average price is $436.77. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $487.20.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a $0.7615 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.64%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57.

Invesco QQQ Company Profile

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.