Black Diamond Financial LLC Purchases New Position in Invesco QQQ (NASDAQ:QQQ)

Black Diamond Financial LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,214 shares of the exchange traded fund's stock, valued at approximately $2,445,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.1%

Shares of Invesco QQQ stock traded up $0.31 on Tuesday, reaching $552.34. 36,064,065 shares of the company traded hands, compared to its average volume of 39,286,000. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.20. The company has a 50 day moving average of $521.12 and a 200 day moving average of $504.84.

Invesco QQQ Cuts Dividend

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

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.