Fortress Financial Solutions LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,475 shares of the exchange traded fund's stock after buying an additional 504 shares during the quarter. Invesco QQQ makes up about 13.1% of Fortress Financial Solutions LLC's investment portfolio, making the stock its largest holding. Fortress Financial Solutions LLC's holdings in Invesco QQQ were worth $9,132,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ in the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the first quarter valued at $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.
Invesco QQQ Stock Performance
QQQ stock traded up $0.57 during mid-day trading on Wednesday, reaching $557.29. The company had a trading volume of 49,265,170 shares, compared to its average volume of 39,504,481. Invesco QQQ has a one year low of $402.39 and a one year high of $560.80. The stock's 50-day simple moving average is $529.97 and its two-hundred day simple moving average is $506.17.
Invesco QQQ Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.
About Invesco QQQ
(
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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