Delta Financial Group Inc. Acquires 1,035 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Delta Financial Group Inc. increased its holdings in Invesco QQQ by 41.4% during the first quarter, acquiring an additional 1,035 shares, bringing its total to 3,532 shares valued at approximately $1.73 million.
• Other institutional investors also boosted their positions, with notable increases including Liberty Wealth Management, which grew its stake by 11,286.3%, and Banco Santander S.A., which increased its holdings by 100.2%.
• Invesco QQQ shares have a 52-week range between $402.39 and $574.63, and the fund recently declared a quarterly dividend of $0.5911, reflecting an annualized yield of 0.4%.

Delta Financial Group Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 41.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,532 shares of the exchange traded fund's stock after purchasing an additional 1,035 shares during the quarter. Delta Financial Group Inc.'s holdings in Invesco QQQ were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Novus Advisors LLC boosted its holdings in shares of Invesco QQQ by 5.7% in the 1st quarter. Novus Advisors LLC now owns 2,505 shares of the exchange traded fund's stock valued at $1,175,000 after buying an additional 134 shares in the last quarter. Powell Investment Advisors LLC lifted its position in Invesco QQQ by 13.2% during the first quarter. Powell Investment Advisors LLC now owns 24,563 shares of the exchange traded fund's stock valued at $11,536,000 after acquiring an additional 2,863 shares during the last quarter. Cedar Wealth Management LLC boosted its stake in Invesco QQQ by 4.8% in the first quarter. Cedar Wealth Management LLC now owns 2,566 shares of the exchange traded fund's stock valued at $1,203,000 after acquiring an additional 118 shares in the last quarter. Liberty Wealth Management LLC grew its holdings in Invesco QQQ by 11,286.3% in the first quarter. Liberty Wealth Management LLC now owns 314,035 shares of the exchange traded fund's stock worth $147,257,000 after purchasing an additional 311,277 shares during the last quarter. Finally, Banco Santander S.A. grew its holdings in Invesco QQQ by 100.2% in the first quarter. Banco Santander S.A. now owns 75,125 shares of the exchange traded fund's stock worth $35,228,000 after purchasing an additional 37,605 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 2.0%

Shares of QQQ opened at $553.88 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The stock has a fifty day moving average price of $544.01 and a 200-day moving average price of $510.69.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

Invesco QQQ Company 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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