Scientech Research LLC Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Scientech Research LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,266 shares of the exchange traded fund’s stock, valued at approximately $1,086,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Atwater Malick LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $293,000. Westwood Holdings Group Inc. increased its position in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares during the last quarter. GenWealth Group Inc. raised its holdings in shares of Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares in the last quarter. Socha Financial Group LLC lifted its position in shares of Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC lifted its position in shares of Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $486.75 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The business’s fifty day moving average price is $468.10 and its 200 day moving average price is $459.96.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

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.