Ameriflex Group Inc. Has $2.90 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Ameriflex Group Inc. increased its position in Invesco QQQ by 18.1% during the first quarter, bringing its total to 6,181 shares, valued at approximately $2.90 million.
• Institutional investors collectively own 44.58% of Invesco QQQ, with multiple firms, including Cary Street Partners Financial LLC, making significant investments in recent quarters.
• Invesco QQQ's quarterly dividend has been set at $0.5911, representing an annualized yield of 0.4%, amidst a recent dip in stock trading.

Ameriflex Group Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,181 shares of the exchange traded fund's stock after acquiring an additional 946 shares during the quarter. Invesco QQQ makes up 1.2% of Ameriflex Group Inc.'s portfolio, making the stock its 13th largest holding. Ameriflex Group Inc.'s holdings in Invesco QQQ were worth $2,898,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Flputnam Investment Management Co. lifted its holdings in shares of Invesco QQQ by 5.4% during the first quarter. Flputnam Investment Management Co. now owns 42,877 shares of the exchange traded fund's stock valued at $20,106,000 after acquiring an additional 2,202 shares during the period. Betterment LLC lifted its holdings in shares of Invesco QQQ by 17.5% during the first quarter. Betterment LLC now owns 83,943 shares of the exchange traded fund's stock valued at $39,363,000 after acquiring an additional 12,484 shares during the period. Retirement Planning Co of New England Inc. lifted its holdings in shares of Invesco QQQ by 40.4% during the first quarter. Retirement Planning Co of New England Inc. now owns 17,241 shares of the exchange traded fund's stock valued at $8,085,000 after acquiring an additional 4,958 shares during the period. Weitzel Financial Services Inc. increased its stake in shares of Invesco QQQ by 50.5% in the first quarter. Weitzel Financial Services Inc. now owns 16,591 shares of the exchange traded fund's stock valued at $7,478,000 after buying an additional 5,569 shares in the last quarter. Finally, MAI Capital Management increased its stake in shares of Invesco QQQ by 3.0% in the first quarter. MAI Capital Management now owns 340,727 shares of the exchange traded fund's stock valued at $159,774,000 after buying an additional 10,052 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $4.45 during midday trading on Wednesday, reaching $570.07. The company's stock had a trading volume of 54,107,185 shares, compared to its average volume of 42,395,224. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The business's fifty day simple moving average is $563.53 and its 200-day simple moving average is $517.73.

Invesco QQQ Cuts Dividend

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

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.