Magnus Financial Group LLC Acquires 925 Shares of Invesco QQQ (NASDAQ:QQQ)

Magnus Financial Group LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,463 shares of the exchange traded fund's stock after acquiring an additional 925 shares during the period. Magnus Financial Group LLC's holdings in Invesco QQQ were worth $5,844,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $1,018,000. Synergy Investment Management LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc bought a new position in Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new position in Invesco QQQ in the fourth quarter valued at about $4,623,000. Finally, Gemsstock Ltd. lifted its stake in shares of Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $524.79 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The stock's fifty day moving average is $482.06 and its 200 day moving average is $501.70. The stock has a market cap of $328.86 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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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