Fischer Financial Services Inc. Has $13.50 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Fischer Financial Services Inc. increased its stake in Invesco QQQ by 2.4%, owning 28,782 shares valued at approximately $13.5 million, making it the firm's 6th largest position.
• Multiple institutional investors, including Wilkins Miller Wealth Management and Gemsstock Ltd., also adjusted their holdings in Invesco QQQ during the 4th quarter, highlighting increased interest in the ETF.
• Invesco QQQ declared a quarterly dividend of $0.5911, with an ex-dividend date on June 23rd, representing an annualized yield of 0.42%.

Fischer Financial Services Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,782 shares of the exchange traded fund's stock after purchasing an additional 668 shares during the period. Invesco QQQ accounts for approximately 4.3% of Fischer Financial Services Inc.'s holdings, making the stock its 6th largest position. Fischer Financial Services Inc.'s holdings in Invesco QQQ were worth $13,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Phoenix Financial Ltd. increased its holdings in shares of Invesco QQQ by 35.9% during the first quarter. Phoenix Financial Ltd. now owns 136,961 shares of the exchange traded fund's stock worth $64,284,000 after buying an additional 36,201 shares in the last quarter. Stevens Capital Management LP bought a new stake in Invesco QQQ during the first quarter valued at $5,878,000. AM Investment Strategies LLC boosted its position in Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock valued at $904,000 after acquiring an additional 612 shares during the last quarter. Caliber Wealth Management LLC KS bought a new stake in Invesco QQQ during the first quarter valued at $13,939,000. Finally, Denver PWM LLC boosted its position in shares of Invesco QQQ by 2.8% during the 1st quarter. Denver PWM LLC now owns 3,361 shares of the exchange traded fund's stock worth $1,576,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.2%

Shares of QQQ traded up $1.22 on Monday, reaching $567.59. The company's stock had a trading volume of 17,704,173 shares, compared to its average volume of 44,560,781. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $569.04. The firm has a fifty day moving average of $539.14 and a 200-day moving average of $508.75.

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 issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

Invesco QQQ 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.