Fortitude Financial LLC Decreases Holdings in Invesco QQQ $QQQ

Key Points

• Fortitude Financial LLC has significantly reduced its holdings in Invesco QQQ by 96.0%, now owning 6,607 shares after selling 159,251 during the first quarter.
• The current value of Fortitude Financial's stake in Invesco QQQ is approximately $3,098,000, making it the fund's 9th largest holding.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, reflecting a 0.4% dividend yield, with the payment made on July 31st.

Fortitude Financial LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 96.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,607 shares of the exchange traded fund's stock after selling 159,251 shares during the period. Invesco QQQ comprises approximately 3.0% of Fortitude Financial LLC's holdings, making the stock its 9th largest holding. Fortitude Financial LLC's holdings in Invesco QQQ were worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Compass Financial Services Inc boosted its position in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after buying an additional 19 shares during the last quarter. Willis Johnson & Associates Inc. boosted its position in Invesco QQQ by 2.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after buying an additional 21 shares during the last quarter. MTM Investment Management LLC boosted its position in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares during the last quarter. Cutler Investment Counsel LLC boosted its position in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after buying an additional 21 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its position in Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock valued at $707,000 after buying an additional 22 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.6%

Shares of Invesco QQQ stock opened at $584.08 on Friday. The firm has a fifty day moving average of $567.63 and a two-hundred day moving average of $519.99. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $584.88.

Invesco QQQ Cuts Dividend

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

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.

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