Park Place Capital Corp Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Park Place Capital Corp lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 110.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,491 shares of the exchange traded fund’s stock after purchasing an additional 781 shares during the period. Park Place Capital Corp’s holdings in Invesco QQQ were worth $662,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QQQ. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ in the first quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Red Tortoise LLC lifted its holdings 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 purchasing an additional 74 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $41,000. Finally, Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6 %

QQQ stock opened at $481.92 on Tuesday. The firm has a 50 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. Stockholders 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 dividend yield of 0.63%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. 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.