Plan Group Financial LLC Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Plan Group Financial LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 451 shares of the exchange traded fund’s stock, valued at approximately $220,000.

A number of other hedge funds also recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the 2nd quarter valued at $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC raised its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.5 %

Shares of QQQ opened at $488.36 on Thursday. The firm’s fifty day simple moving average is $479.75 and its two-hundred day simple moving average is $466.12. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a 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.