Safe Harbor Fiduciary LLC Purchases 9,661 Shares of Invesco QQQ $QQQ

Key Points

• Safe Harbor Fiduciary LLC increased its stake in Invesco QQQ by 1,050.1%, owning a total of 10,581 shares valued at approximately $4.96 million, making it the firm's second largest holding.
• Other hedge funds, including Alpine Bank Wealth Management and Westend Capital Management LLC, also acquired new stakes in Invesco QQQ, reflecting a growing interest among institutional investors.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, representing an annual yield of 0.4%.

Safe Harbor Fiduciary LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1,050.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,581 shares of the exchange traded fund's stock after buying an additional 9,661 shares during the period. Invesco QQQ comprises 5.1% of Safe Harbor Fiduciary LLC's holdings, making the stock its 2nd biggest holding. Safe Harbor Fiduciary LLC's holdings in Invesco QQQ were worth $4,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $2,775,904,000. Ameriprise Financial Inc. raised its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 1.2%

Shares of NASDAQ QQQ traded down $6.68 during trading hours on Monday, hitting $570.40. 55,870,652 shares of the stock were exchanged, compared to its average volume of 44,778,712. The firm has a fifty day moving average price of $562.24 and a 200-day moving average price of $517.17. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32.

Invesco QQQ Cuts Dividend

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

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.