5,919,781 Shares in Invesco QQQ (NASDAQ:QQQ) Purchased by Mullooly Asset Management Inc.

Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,919,781 shares of the exchange traded fund's stock, valued at approximately $2,775,904,000. Invesco QQQ accounts for 34.4% of Mullooly Asset Management Inc.'s holdings, making the stock its biggest position. Mullooly Asset Management Inc. owned approximately 0.94% of Invesco QQQ at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter worth about $36,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ in the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 2.0%

QQQ opened at $553.88 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63. The company has a 50 day moving average of $544.01 and a two-hundred day moving average of $510.73.

Invesco QQQ Cuts Dividend

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

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.

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