Breakwater Capital Group Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Breakwater Capital Group raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,387 shares of the exchange traded fund’s stock after purchasing an additional 29 shares during the period. Breakwater Capital Group’s holdings in Invesco QQQ were worth $1,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $35,000. Red Tortoise LLC lifted its stake in shares of Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares in the last quarter. Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $40,000. Finally, Friedenthal Financial purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $41,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.5 %

Shares of QQQ stock opened at $479.11 on Monday. The firm’s 50-day moving average is $454.85 and its two-hundred day moving average is $436.77. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $487.20.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a yield of 0.64%.

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.