SPC Financial Inc. Has $7.60 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

SPC Financial Inc. lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,862 shares of the exchange traded fund’s stock after selling 270 shares during the quarter. SPC Financial Inc.’s holdings in Invesco QQQ were worth $7,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the first quarter valued at about $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth about $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $35,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.3 %

QQQ stock opened at $488.07 on Tuesday. The company has a 50 day simple moving average of $468.22 and a 200 day simple moving average of $460.55. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.