Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Founders Financial Alliance LLC

Founders Financial Alliance LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,980 shares of the exchange traded fund’s stock after buying an additional 89 shares during the period. Founders Financial Alliance LLC’s holdings in Invesco QQQ were worth $1,428,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the second quarter worth approximately $30,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.3 %

Invesco QQQ stock opened at $488.07 on Tuesday. The company has a 50 day moving average price of $468.22 and a 200 day moving average price of $460.55. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.