SOL Capital Management CO Has $18.34 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

SOL Capital Management CO raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,105 shares of the exchange traded fund's stock after buying an additional 1,880 shares during the period. Invesco QQQ makes up 2.0% of SOL Capital Management CO's portfolio, making the stock its 8th biggest position. SOL Capital Management CO's holdings in Invesco QQQ were worth $18,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Providence First Trust Co grew its stake in shares of Invesco QQQ by 3.0% during the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock worth $346,000 after acquiring an additional 20 shares in the last quarter. Diversified Enterprises LLC grew its stake in shares of Invesco QQQ by 0.4% during the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after acquiring an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC grew its stake in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after acquiring an additional 20 shares in the last quarter. Legacy Investment Solutions LLC grew its stake in shares of Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after acquiring an additional 20 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ traded up $1.87 during mid-day trading on Friday, hitting $548.09. 57,440,636 shares of the company's stock were exchanged, compared to its average volume of 38,990,495. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $549.90. The company has a 50-day simple moving average of $507.68 and a 200 day simple moving average of $503.87.

Invesco QQQ Cuts Dividend

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

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.