Chapin Davis Inc. Purchases 3,855 Shares of Invesco QQQ (NASDAQ:QQQ)

Chapin Davis Inc. boosted its position in Invesco QQQ (NASDAQ:QQQ) by 436.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,738 shares of the exchange traded fund’s stock after purchasing an additional 3,855 shares during the period. Chapin Davis Inc.’s holdings in Invesco QQQ were worth $2,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Red Tortoise LLC raised its stake in shares of Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Robinson Capital Management LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $40,000. Finally, Friedenthal Financial purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $41,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $481.92 on Tuesday. The company’s 50 day moving average is $454.85 and its 200 day moving average is $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 disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a yield of 0.63%. 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.

Invesco QQQ 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.