Socha Financial Group LLC Has $45.93 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Socha Financial Group LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,942 shares of the exchange traded fund's stock after purchasing an additional 2,909 shares during the period. Invesco QQQ makes up 22.4% of Socha Financial Group LLC's portfolio, making the stock its 3rd largest position. Socha Financial Group LLC's holdings in Invesco QQQ were worth $45,927,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock valued at $1,593,354,000 after acquiring an additional 27,115 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $548.09 on Monday. The firm's 50-day moving average price is $509.76 and its two-hundred day moving average price is $503.72. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $552.23.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.