Pasadena Private Wealth LLC Buys 2,301 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Pasadena Private Wealth LLC increased its position in Invesco QQQ by 48.1%, owning 7,087 shares worth approximately $3.32 million, making it the firm's 28th largest position.
• Several hedge funds have also adjusted their stakes in Invesco QQQ, with Legacy Investment Solutions LLC boosting its holdings by 8.2% in the last quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, with an annualized yield of 0.42%, set to be paid on July 31st.

Pasadena Private Wealth LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 48.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,087 shares of the exchange traded fund's stock after acquiring an additional 2,301 shares during the quarter. Invesco QQQ accounts for approximately 0.6% of Pasadena Private Wealth LLC's investment portfolio, making the stock its 28th biggest position. Pasadena Private Wealth LLC's holdings in Invesco QQQ were worth $3,323,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ during the fourth quarter worth about $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 2.0%

QQQ traded down $11.13 on Friday, hitting $553.88. 69,290,965 shares of the stock were exchanged, compared to its average volume of 44,970,789. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The business has a 50-day moving average of $543.12 and a two-hundred day moving average of $510.39.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.