Sara Bay Financial Buys New Position in Invesco QQQ $QQQ

Key Points

• Sara Bay Financial has acquired a new position in Invesco QQQ during the second quarter, purchasing 913 shares valued at approximately $504,000.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, marking an increase from the previous dividend of $0.59, with a 0.5% dividend yield.
• Invesco QQQ shares have fluctuated between a 1-year low of $402.39 and a 1-year high of $602.87, and currently, the stock is down by 0.7%.

Sara Bay Financial purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 913 shares of the exchange traded fund's stock, valued at approximately $504,000.

Several other large investors have also added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its holdings in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.7%

Shares of NASDAQ:QQQ opened at $598.20 on Wednesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The firm's 50 day simple moving average is $573.94 and its two-hundred day simple moving average is $525.30.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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