Falcon Wealth Planning Has $41.47 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Falcon Wealth Planning boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,430 shares of the exchange traded fund's stock after buying an additional 15,845 shares during the quarter. Invesco QQQ accounts for approximately 4.6% of Falcon Wealth Planning's holdings, making the stock its 10th biggest position. Falcon Wealth Planning's holdings in Invesco QQQ were worth $41,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the first quarter valued at about $50,000. Banque Transatlantique SA bought a new position in Invesco QQQ in the fourth quarter valued at about $57,000. Finally, Perritt Capital Management Inc purchased a new position in Invesco QQQ in the fourth quarter worth about $61,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.9%

NASDAQ QQQ opened at $546.22 on Friday. The company has a 50-day moving average price of $507.68 and a 200-day moving average price of $503.87. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $547.35.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.