Sound Income Strategies LLC Purchases 5,428 Shares of Invesco QQQ (NASDAQ:QQQ)

Sound Income Strategies LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 90.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,450 shares of the exchange traded fund’s stock after purchasing an additional 5,428 shares during the quarter. Sound Income Strategies LLC’s holdings in Invesco QQQ were worth $5,589,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ during the first quarter valued at approximately $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the first quarter worth $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $0.77 during trading hours on Friday, hitting $493.36. 20,644,497 shares of the company’s stock traded hands, compared to its average volume of 39,311,230. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The business’s fifty day simple moving average is $472.55 and its two-hundred day simple moving average is $463.27.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.