Financial Partners Group LLC Boosts Position in Invesco QQQ (NASDAQ:QQQ)

Financial Partners Group LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,465 shares of the exchange traded fund’s stock after acquiring an additional 251 shares during the quarter. Financial Partners Group LLC’s holdings in Invesco QQQ were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in QQQ. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the first quarter worth $29,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Red Tortoise LLC raised its holdings 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 acquiring an additional 74 shares during the last quarter. Robinson Capital Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth $40,000. Finally, Friedenthal Financial acquired a new position in shares of Invesco QQQ in the fourth quarter worth $41,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.5 %

Invesco QQQ stock opened at $479.11 on Monday. The stock has a fifty day moving average price of $454.85 and a 200 day moving average price of $436.77. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $487.20.

Invesco QQQ Increases Dividend

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

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.