Aspen Capital Management LLC Takes $3.47 Million Position in Invesco QQQ (NASDAQ:QQQ)

Aspen Capital Management LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,392 shares of the exchange traded fund's stock, valued at approximately $3,466,000. Invesco QQQ comprises 1.1% of Aspen Capital Management LLC's holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC raised its position in shares of Invesco QQQ by 3.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 409,205 shares of the exchange traded fund's stock valued at $191,888,000 after buying an additional 13,729 shares during the last quarter. 1ST Source Bank raised its position in shares of Invesco QQQ by 1.8% during the first quarter. 1ST Source Bank now owns 4,822 shares of the exchange traded fund's stock valued at $2,261,000 after buying an additional 87 shares during the last quarter. Covenant Asset Management LLC raised its position in shares of Invesco QQQ by 2.8% during the first quarter. Covenant Asset Management LLC now owns 8,324 shares of the exchange traded fund's stock valued at $3,903,000 after buying an additional 225 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its position in Invesco QQQ by 74.0% in the first quarter. Cassaday & Co Wealth Management LLC now owns 61,890 shares of the exchange traded fund's stock worth $29,022,000 after purchasing an additional 26,315 shares during the last quarter. Finally, Pachira Investments Inc. increased its position in Invesco QQQ by 5.9% in the first quarter. Pachira Investments Inc. now owns 16,223 shares of the exchange traded fund's stock worth $7,607,000 after purchasing an additional 907 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $561.26 on Friday. The company's fifty day moving average is $534.38 and its 200 day moving average is $507.15. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $564.73.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date 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.

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