Transcend Capital Advisors LLC Has $17.22 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Transcend Capital Advisors LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,724 shares of the exchange traded fund's stock after acquiring an additional 1,392 shares during the quarter. Invesco QQQ comprises 1.2% of Transcend Capital Advisors LLC's holdings, making the stock its 10th biggest position. Transcend Capital Advisors LLC's holdings in Invesco QQQ were worth $17,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $1,018,000. Synergy Investment Management LLC purchased a new position in Invesco QQQ during the fourth quarter valued at $723,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ during the fourth quarter valued at $815,000. Tandem Investment Partners LLC purchased a new position in Invesco QQQ during the fourth quarter valued at $4,623,000. Finally, Gemsstock Ltd. raised its position in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after buying an additional 213,400 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

Shares of NASDAQ QQQ opened at $548.09 on Friday. The firm has a 50-day simple moving average of $509.76 and a 200-day simple moving average of $504.06. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $549.99.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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.

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.

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