Argentarii LLC Makes New $1.02 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Argentarii LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,166 shares of the exchange traded fund's stock, valued at approximately $1,016,000.

A number of other large investors have also bought and sold shares of the stock. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter worth $1,018,000. Grant Private Wealth Management Inc purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $815,000. Tandem Investment Partners LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $4,623,000. Gemsstock Ltd. lifted its holdings in Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its stake in Invesco QQQ by 1.8% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after purchasing an additional 2,600 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.9%

QQQ stock traded up $5.08 during mid-day trading on Friday, reaching $555.88. 26,443,524 shares of the company traded hands, compared to its average volume of 39,274,525. The company has a fifty day moving average price of $519.53 and a 200-day moving average price of $504.67. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is 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.