448 Shares in Invesco QQQ $QQQ Purchased by Paladin Wealth LLC

Key Points

• Paladin Wealth LLC has acquired a new stake in Invesco QQQ, purchasing 448 shares valued at approximately $247,000 in Q2.
• Other hedge funds have also shown interest, with several acquiring significant stakes in Invesco QQQ, which is now approximately 44.58% owned by institutional investors and hedge funds.
• Despite its investment activity, Invesco QQQ announced a recent dividend cut, with a quarterly dividend of $0.5911 paid, reflecting an annualized yield of 0.4%.

Paladin Wealth LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 448 shares of the exchange traded fund's stock, valued at approximately $247,000.

Several other hedge funds have also recently bought and sold shares of QQQ. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the first quarter worth approximately $51,000. Blume Capital Management Inc. lifted its position in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC lifted its position in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in Invesco QQQ during the fourth quarter worth approximately $67,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $586.66 on Monday. The firm has a 50 day moving average price of $568.24 and a two-hundred day moving average price of $520.68. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $587.86.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.

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