Pettinga Financial Advisors LLC Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Pettinga Financial Advisors LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,002 shares of the exchange traded fund’s stock after purchasing an additional 619 shares during the period. Invesco QQQ makes up about 1.7% of Pettinga Financial Advisors LLC’s holdings, making the stock its 18th largest holding. Pettinga Financial Advisors LLC’s holdings in Invesco QQQ were worth $6,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $35,000. Red Tortoise LLC raised its stake 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 valued at $39,000 after acquiring an additional 74 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $41,000. Finally, Robinson Capital Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6 %

Shares of NASDAQ QQQ opened at $481.92 on Tuesday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $487.20. The business’s fifty day simple moving average is $454.85 and its 200-day simple moving average is $436.77.

Invesco QQQ Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, June 24th. This is a boost 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%.

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.