ERn Financial LLC Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

ERn Financial LLC lifted its position in Invesco QQQ (NASDAQ:QQQ) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 586 shares of the exchange traded fund’s stock after buying an additional 25 shares during the quarter. ERn Financial LLC’s holdings in Invesco QQQ were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at $29,000. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ during the 4th quarter worth about $35,000. Red Tortoise LLC increased its holdings in Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Friedenthal Financial purchased a new stake in Invesco QQQ during the 4th quarter worth about $41,000. Finally, Robinson Capital Management LLC purchased a new stake in Invesco QQQ during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $481.61 on Friday. The stock’s 50-day moving average is $452.40 and its two-hundred day moving average is $435.37. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $486.86.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.63%.

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.