Sweeney & Michel LLC Makes New $247,000 Investment in Invesco QQQ (NASDAQ:QQQ)

Sweeney & Michel LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, Holdings Channel.com reports. The firm bought 553 shares of the exchange traded fund’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ in the first quarter worth about $29,000. Legacy Bridge LLC lifted its holdings in shares of Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ in the fourth quarter worth about $35,000. Red Tortoise LLC lifted its holdings 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 worth $39,000 after buying an additional 74 shares in the last quarter. Finally, Robinson Capital Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $40,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.4 %

QQQ traded down $6.37 on Tuesday, reaching $457.53. The company had a trading volume of 40,752,027 shares, compared to its average volume of 40,331,012. The business has a 50 day simple moving average of $474.91 and a 200 day simple moving average of $448.69. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Monday, June 24th.

Invesco QQQ 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.