Balefire LLC Acquires 5,447 Shares of Invesco QQQ (NASDAQ:QQQ)

Balefire LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 71.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,088 shares of the exchange traded fund's stock after buying an additional 5,447 shares during the period. Invesco QQQ accounts for approximately 2.1% of Balefire LLC's holdings, making the stock its 8th largest holding. Balefire LLC's holdings in Invesco QQQ were worth $6,137,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. KPP Advisory Services LLC raised its holdings in shares of Invesco QQQ by 39.4% in the 1st quarter. KPP Advisory Services LLC now owns 59,212 shares of the exchange traded fund's stock worth $27,766,000 after purchasing an additional 16,733 shares during the period. LifeSteps Financial Inc. raised its holdings in shares of Invesco QQQ by 1.0% in the 1st quarter. LifeSteps Financial Inc. now owns 38,382 shares of the exchange traded fund's stock worth $17,998,000 after purchasing an additional 372 shares during the period. Flavin Financial Services Inc. raised its holdings in shares of Invesco QQQ by 7.5% in the 1st quarter. Flavin Financial Services Inc. now owns 4,006 shares of the exchange traded fund's stock worth $1,879,000 after purchasing an additional 281 shares during the period. Nvest Financial LLC raised its holdings in shares of Invesco QQQ by 1.4% in the 1st quarter. Nvest Financial LLC now owns 6,475 shares of the exchange traded fund's stock worth $3,036,000 after purchasing an additional 91 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Invesco QQQ by 5.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 105,720 shares of the exchange traded fund's stock worth $49,574,000 after purchasing an additional 5,766 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $546.22 on Friday. The stock's 50-day moving average is $507.68 and its 200-day moving average is $503.87. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $547.35.

Invesco QQQ Cuts Dividend

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

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.

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