Sovereign Financial Group Inc. Acquires 8,251 Shares of Invesco QQQ (NASDAQ:QQQ)

Sovereign Financial Group Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 34.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,362 shares of the exchange traded fund’s stock after buying an additional 8,251 shares during the period. Invesco QQQ makes up about 4.0% of Sovereign Financial Group Inc.’s portfolio, making the stock its 5th largest position. Sovereign Financial Group Inc.’s holdings in Invesco QQQ were worth $13,253,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of QQQ. Red Tortoise LLC raised 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 valued at $39,000 after purchasing an additional 74 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at about $41,000. Bear Mountain Capital Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth about $42,000. Core Wealth Advisors Inc. increased its holdings in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after buying an additional 30 shares during the last quarter. Finally, Hexagon Capital Partners LLC purchased a new stake in Invesco QQQ during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded down $0.26 during trading hours on Wednesday, reaching $440.06. 24,728,024 shares of the company were exchanged, compared to its average volume of 45,326,637. Invesco QQQ has a 1 year low of $321.32 and a 1 year high of $449.34. The business’s 50 day simple moving average is $436.66 and its 200-day simple moving average is $414.00.

Invesco QQQ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were issued a dividend of $0.5735 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.52%.

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.