TCP Asset Management LLC Purchases 12,075 Shares of Invesco QQQ (NASDAQ:QQQ)

TCP Asset Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 30.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,772 shares of the exchange traded fund’s stock after purchasing an additional 12,075 shares during the quarter. Invesco QQQ accounts for 6.1% of TCP Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. TCP Asset Management LLC’s holdings in Invesco QQQ were worth $22,987,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of QQQ. Atwater Malick LLC purchased a new stake in Invesco QQQ in the 1st quarter valued at $293,000. Bank Hapoalim BM raised its position in Invesco QQQ by 6.3% in the 4th quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock valued at $31,669,000 after buying an additional 4,549 shares during the last quarter. Aviance Capital Partners LLC raised its position in Invesco QQQ by 29.7% in the 4th quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock valued at $1,848,000 after buying an additional 1,033 shares during the last quarter. GenWealth Group Inc. raised its position in Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after buying an additional 2,325 shares during the last quarter. Finally, VitalStone Financial LLC raised its position in Invesco QQQ by 302.0% in the 3rd quarter. VitalStone Financial LLC now owns 21,403 shares of the exchange traded fund’s stock valued at $8,099,000 after buying an additional 16,079 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $491.04 on Thursday. The business has a fifty day simple moving average of $457.35 and a 200 day simple moving average of $437.90. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $491.17.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, June 24th.

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.