Horizon Wealth Management LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Horizon Wealth Management LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,788 shares of the exchange traded fund’s stock after purchasing an additional 79 shares during the period. Invesco QQQ comprises 12.9% of Horizon Wealth Management LLC’s holdings, making the stock its 2nd biggest holding. Horizon Wealth Management LLC’s holdings in Invesco QQQ were worth $49,635,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the 1st quarter worth about $29,000. Voisard Asset Management Group Inc. bought a new position in Invesco QQQ in the 4th quarter worth about $35,000. Red Tortoise LLC grew its stake in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares in the last quarter. Robinson Capital Management LLC bought a new position in Invesco QQQ in the 4th quarter worth about $40,000. Finally, Friedenthal Financial bought a new position in Invesco QQQ in the 4th quarter worth about $41,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $481.92 on Tuesday. The company’s 50-day simple moving average is $454.85 and its two-hundred day simple moving average is $436.77. Invesco QQQ has a one year low of $342.35 and a one year high of $487.20.

Invesco QQQ Increases Dividend

The business 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 $0.7615 dividend. 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 0.63%. The ex-dividend date of this dividend is Monday, June 24th.

About Invesco QQQ

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.