Sandy Cove Advisors LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Sandy Cove Advisors LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 7.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,654 shares of the exchange traded fund’s stock after purchasing an additional 925 shares during the period. Invesco QQQ accounts for about 2.6% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Sandy Cove Advisors LLC’s holdings in Invesco QQQ were worth $5,619,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Trilogy Capital Inc. increased its stake in shares of Invesco QQQ by 9.3% in the first quarter. Trilogy Capital Inc. now owns 221,579 shares of the exchange traded fund’s stock worth $98,383,000 after purchasing an additional 18,844 shares in the last quarter. Gradient Capital Advisors LLC raised its holdings in Invesco QQQ by 3.1% during the first quarter. Gradient Capital Advisors LLC now owns 1,005 shares of the exchange traded fund’s stock valued at $446,000 after acquiring an additional 30 shares during the period. Avalon Capital Management lifted its position in shares of Invesco QQQ by 5.8% in the first quarter. Avalon Capital Management now owns 2,421 shares of the exchange traded fund’s stock valued at $1,075,000 after acquiring an additional 133 shares in the last quarter. Cornerstone Wealth Group LLC boosted its stake in shares of Invesco QQQ by 47.2% in the first quarter. Cornerstone Wealth Group LLC now owns 3,463 shares of the exchange traded fund’s stock worth $1,538,000 after acquiring an additional 1,110 shares during the period. Finally, Richardson Capital Management LLC grew its position in shares of Invesco QQQ by 3,792.5% during the first quarter. Richardson Capital Management LLC now owns 2,063 shares of the exchange traded fund’s stock worth $916,000 after purchasing an additional 2,010 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $479.11 on Monday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $487.20. The business has a 50 day simple moving average of $454.85 and a two-hundred day simple moving average of $436.77.

Invesco QQQ Increases Dividend

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