Tranquilli Financial Advisor LLC Takes $227,000 Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Tranquilli Financial Advisor LLC has made a new investment in Invesco QQQ, purchasing 484 shares valued at approximately $227,000.
• Other institutional investors have also increased their positions in Invesco QQQ, with significant acquisitions including $1,018,000 and $10,052,000 worth of shares being purchased.
• Invesco QQQ recently reported a quarterly dividend of $0.5911, yielding 0.4% annually after its dividend cut.

Tranquilli Financial Advisor LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 484 shares of the exchange traded fund's stock, valued at approximately $227,000.

A number of other hedge funds also recently made changes to their positions in QQQ. Goldman Sachs Group Inc. raised its stake in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the 1st quarter valued at about $2,775,904,000. NWI Management LP raised its stake 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 acquiring an additional 3,648,000 shares during the period. GAMMA Investing LLC raised its stake 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 acquiring an additional 1,868,580 shares during the period. Finally, Senator Investment Group LP bought a new stake in Invesco QQQ in the 4th quarter valued at about $679,936,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.3%

Invesco QQQ stock traded up $7.20 during midday trading on Tuesday, reaching $580.05. The stock had a trading volume of 42,061,779 shares, compared to its average volume of 44,394,500. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $580.35. The firm's 50-day moving average price is $551.05 and its 200 day moving average price is $512.86.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

Invesco QQQ Company 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.