Marshall Financial Group LLC Has $5.78 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Marshall Financial Group LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,007 shares of the exchange traded fund’s stock after selling 86 shares during the period. Invesco QQQ accounts for 1.7% of Marshall Financial Group LLC’s portfolio, making the stock its 12th largest position. Marshall Financial Group LLC’s holdings in Invesco QQQ were worth $5,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth $35,000. Red Tortoise LLC boosted its position 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 worth $39,000 after purchasing an additional 74 shares in the last quarter. Friedenthal Financial bought a new position in shares of Invesco QQQ during the fourth quarter worth $41,000. Finally, Robinson Capital Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.8 %

QQQ opened at $491.04 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $491.17. The firm’s fifty day simple moving average is $459.98 and its 200 day simple moving average is $438.63.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend 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.