Invesco QQQ (NASDAQ:QQQ) Shares Acquired by Money Concepts Capital Corp

Money Concepts Capital Corp increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.3% during the 1st quarter, Holdings Channel reports. The fund owned 67,740 shares of the exchange traded fund’s stock after purchasing an additional 2,178 shares during the quarter. Invesco QQQ makes up about 2.4% of Money Concepts Capital Corp’s investment portfolio, making the stock its 7th largest position. Money Concepts Capital Corp’s holdings in Invesco QQQ were worth $31,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the first quarter worth $50,000. Banque Transatlantique SA purchased a new stake in Invesco QQQ during the fourth quarter worth $57,000. Finally, Perritt Capital Management Inc acquired a new stake in Invesco QQQ during the fourth quarter valued at $61,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

QQQ opened at $548.09 on Friday. The company has a fifty day moving average of $509.76 and a two-hundred day moving average of $504.06. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $549.99.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.