Faithward Advisors LLC Grows Position in Invesco QQQ $QQQ

Key Points

• Faithward Advisors LLC increased its stake in Invesco QQQ by 10.2% during the first quarter, bringing its total holdings to 8,776 shares valued at $4,115,000.
• Various hedge funds are actively adjusting their positions in Invesco QQQ, with notable stakes including Alpine Bank Wealth Management and Blume Capital Management Inc. among others joining in.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, resulting in a 0.4% dividend yield for investors, despite a decline in its previous dividend payments.

Faithward Advisors LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,776 shares of the exchange traded fund's stock after acquiring an additional 809 shares during the quarter. Faithward Advisors LLC's holdings in Invesco QQQ were worth $4,115,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter worth $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $67,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $576.06 on Monday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The stock's 50-day simple moving average is $565.25 and its 200-day simple moving average is $518.33.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend 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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