Flagstar Advisors Inc. Purchases 2,493 Shares of Invesco QQQ (NASDAQ:QQQ)

Flagstar Advisors Inc. boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,455 shares of the exchange traded fund's stock after buying an additional 2,493 shares during the quarter. Invesco QQQ accounts for approximately 3.3% of Flagstar Advisors Inc.'s holdings, making the stock its 4th biggest holding. Flagstar Advisors Inc.'s holdings in Invesco QQQ were worth $11,762,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at about $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Red Tortoise LLC grew its position in shares of Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund's stock valued at $39,000 after buying an additional 74 shares during the last quarter. Robinson Capital Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $40,000. Finally, Friedenthal Financial bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $0.99 on Wednesday, hitting $480.37. The stock had a trading volume of 22,075,131 shares, compared to its average volume of 41,237,059. Invesco QQQ has a one year low of $342.35 and a one year high of $486.86. The company's 50-day moving average is $451.31 and its two-hundred day moving average is $435.05.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be given a $0.7615 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.57. The ex-dividend date 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.

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