Financial Gravity Asset Management Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,238 shares of the exchange traded fund's stock, valued at approximately $581,000.
A number of other hedge funds also recently made changes to their positions in the business. Round Rock Advisors LLC grew its stake in shares of Invesco QQQ by 12.2% in the first quarter. Round Rock Advisors LLC now owns 77,312 shares of the exchange traded fund's stock valued at $36,253,000 after acquiring an additional 8,376 shares in the last quarter. Significant Wealth Partners LLC grew its stake in shares of Invesco QQQ by 67.8% in the first quarter. Significant Wealth Partners LLC now owns 2,688 shares of the exchange traded fund's stock valued at $1,261,000 after acquiring an additional 1,086 shares in the last quarter. Rogco LP grew its stake in shares of Invesco QQQ by 40.9% in the first quarter. Rogco LP now owns 875 shares of the exchange traded fund's stock valued at $410,000 after acquiring an additional 254 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Invesco QQQ by 51.0% in the first quarter. Quotient Wealth Partners LLC now owns 1,439 shares of the exchange traded fund's stock valued at $675,000 after acquiring an additional 486 shares in the last quarter. Finally, Gordian Advisors LLC increased its stake in Invesco QQQ by 25.1% during the 1st quarter. Gordian Advisors LLC now owns 628 shares of the exchange traded fund's stock worth $294,000 after acquiring an additional 126 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.
Invesco QQQ Price Performance
Invesco QQQ stock traded down $1.15 during mid-day trading on Friday, reaching $554.30. 28,351,545 shares of the company were exchanged, compared to its average volume of 44,886,910. The company has a fifty day simple moving average of $525.75 and a 200-day simple moving average of $505.74. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $557.63.
Invesco QQQ Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%.
Invesco QQQ Company Profile
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Free Report)
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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