Plan Group Financial LLC Invests $270,000 in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Plan Group Financial LLC has acquired a new position in Invesco QQQ, purchasing 576 shares valued at approximately $270,000 in the first quarter.
• Invesco QQQ has seen increased interest from several large investors, with institutional ownership now at 44.58%.
• The firm announced a quarterly dividend of $2.36 annualized, resulting in a dividend yield of 0.4%.

Plan Group Financial LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 576 shares of the exchange traded fund's stock, valued at approximately $270,000.

Other large investors have also recently bought and sold shares of the company. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ in the first quarter worth $2,775,904,000. NWI Management LP lifted its holdings in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $679,936,000. Finally, Spear Holdings RSC Ltd purchased a new stake in shares of Invesco QQQ during the first quarter worth about $474,600,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $1.92 during midday trading on Thursday, reaching $569.24. The company's stock had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. The business has a 50 day moving average price of $546.86 and a 200 day moving average price of $511.70. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63.

Invesco QQQ Cuts Dividend

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