Cullinan Associates Inc. Purchases Shares of 740 Invesco QQQ (NASDAQ:QQQ)

Cullinan Associates Inc. purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 740 shares of the exchange traded fund’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the 1st quarter valued at $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter worth $35,000. Red Tortoise LLC boosted its stake in shares of Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares in the last quarter. Robinson Capital Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth $40,000. Finally, Friedenthal Financial bought a new stake in shares of Invesco QQQ during the 4th quarter worth $41,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $486.98 on Wednesday. The business has a fifty day simple moving average of $456.11 and a 200-day simple moving average of $437.32. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. The ex-dividend date of this dividend is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.63%.

Invesco QQQ 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.