RD Finance Ltd Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• RD Finance Ltd has acquired a new stake in Invesco QQQ, purchasing 95,150 shares valued at approximately $44.6 million, making it the firm's largest position at 35.6% of its portfolio.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, with an annualized yield of 0.42%, and will be paid on July 31st.
• As of Tuesday, Invesco QQQ's stock rose by 0.3%, trading at $568.14, with a 52-week range between $402.39 and $569.04.

RD Finance Ltd acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 95,150 shares of the exchange traded fund's stock, valued at approximately $44,618,000. Invesco QQQ accounts for 35.6% of RD Finance Ltd's portfolio, making the stock its biggest position.

A number of other hedge funds have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Invesco QQQ stock opened at $568.14 on Tuesday. The company has a 50 day moving average price of $540.06 and a 200 day moving average price of $509.18. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $569.04.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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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