Cooper Financial Group Makes New Investment in Invesco QQQ $QQQ

Key Points

• Cooper Financial Group has invested approximately $47.85 million in Invesco QQQ, making it the fund's second-largest position with 5.6% of its investment portfolio.
• Invesco QQQ recently announced a quarterly dividend of $0.694 per share, reflecting an increase from the previous dividend of $0.59 and equating to an annualized dividend yield of 0.5%.
• Shares of Invesco QQQ are currently trading at around $600.37, with a one-year high of $602.87 and a low of $402.39.

Cooper Financial Group bought a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 86,744 shares of the exchange traded fund's stock, valued at approximately $47,852,000. Invesco QQQ accounts for about 5.6% of Cooper Financial Group's investment portfolio, making the stock its 2nd largest position.

Other large investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ in the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC grew its position in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 120 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $600.37 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87. The firm has a fifty day moving average price of $577.51 and a 200-day moving average price of $529.57.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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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