Sargent Investment Group LLC Purchases Shares of 1,558 Invesco QQQ (NASDAQ:QQQ)

Sargent Investment Group LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,558 shares of the exchange traded fund's stock, valued at approximately $731,000.

A number of other hedge funds also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth $1,018,000. Grant Private Wealth Management Inc acquired a new position in Invesco QQQ during the fourth quarter worth $815,000. Gemsstock Ltd. increased its position in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after buying an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC acquired a new position in Invesco QQQ during the fourth quarter worth $4,623,000. Finally, Wescott Financial Advisory Group LLC increased its position in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after buying an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.1%

Invesco QQQ stock traded up $0.46 during mid-day trading on Wednesday, hitting $561.71. 23,000,050 shares of the company's stock were exchanged, compared to its average volume of 39,445,680. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $566.06. The stock has a 50 day moving average of $534.38 and a two-hundred day moving average of $507.13.

Invesco QQQ Cuts Dividend

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

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.