Commonwealth Financial Services LLC Buys 2,205 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Commonwealth Financial Services LLC increased its stake in Invesco QQQ by 4.1%, acquiring an additional 2,205 shares during the 1st quarter, bringing its total holdings to 56,005 shares worth approximately $26.3 million.
• Other institutional investors also raised their positions in Invesco QQQ, with notable increases from Geometric Wealth Advisors (8%), North Ridge Wealth Advisors (35.8%), and Evolution Wealth Advisors (9.8%).
• Invesco QQQ shares recently opened at $567.32, with a 12-month trading range between a low of $402.39 and a high of $574.63.

Commonwealth Financial Services LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,005 shares of the exchange traded fund's stock after acquiring an additional 2,205 shares during the period. Invesco QQQ comprises approximately 5.4% of Commonwealth Financial Services LLC's holdings, making the stock its 3rd largest holding. Commonwealth Financial Services LLC's holdings in Invesco QQQ were worth $26,262,000 at the end of the most recent quarter.

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

Invesco QQQ Price Performance

QQQ stock traded up $1.92 during midday trading on Thursday, reaching $569.24. The company's stock had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. The business's 50-day simple moving average is $547.85 and its 200-day simple moving average is $512.02. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $574.63.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given 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.