Fox Financial Inc Has $18.93 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Fox Financial Inc cut its position in Invesco QQQ (NASDAQ:QQQ) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,643 shares of the exchange traded fund’s stock after selling 1,140 shares during the quarter. Invesco QQQ comprises approximately 17.1% of Fox Financial Inc’s holdings, making the stock its 2nd biggest position. Fox Financial Inc’s holdings in Invesco QQQ were worth $18,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ during the 1st quarter valued at $29,000. Legacy Bridge LLC lifted its holdings in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Red Tortoise LLC lifted 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 valued at $39,000 after purchasing an additional 74 shares during the last quarter. Finally, Robinson Capital Management LLC acquired a new stake in Invesco QQQ during the 4th quarter valued at $40,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 1.0 %

Invesco QQQ stock traded up $5.19 during mid-day trading on Wednesday, hitting $502.96. 27,905,368 shares of the company’s stock traded hands, compared to its average volume of 40,198,039. The firm has a 50 day simple moving average of $465.66 and a two-hundred day simple moving average of $441.41. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Increases Dividend

The firm 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 is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.61%.

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.