Sweeney & Michel LLC Invests $247,000 in Invesco QQQ (NASDAQ:QQQ)

Sweeney & Michel LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 553 shares of the exchange traded fund’s stock, valued at approximately $247,000.

A number of other hedge funds have also modified their holdings of QQQ. International Assets Investment Management LLC grew its position in Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after acquiring an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC grew its position in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Invesco QQQ by 7.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after acquiring an additional 162,691 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its position in Invesco QQQ by 30.7% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after acquiring an additional 433,317 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.4 %

NASDAQ QQQ traded down $6.37 during trading hours on Tuesday, reaching $457.53. 40,752,027 shares of the company’s stock were exchanged, compared to its average volume of 40,331,012. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The firm has a fifty day moving average of $474.91 and a 200-day moving average of $448.69.

Invesco QQQ Increases Dividend

The company also recently disclosed 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 represents a $3.05 dividend on an annualized basis and a yield of 0.67%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th.

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.