Invesco QQQ (NASDAQ:QQQ) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 15.5% during the first quarter, HoldingsChannel reports. The firm owned 13,151 shares of the exchange traded fund’s stock after purchasing an additional 1,764 shares during the quarter. Sound Income Strategies LLC’s holdings in Invesco QQQ were worth $6,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $36,000. Roxbury Financial LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $37,000. Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $57,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $526.96 on Friday. The company’s fifty day moving average price is $492.58 and its 200-day moving average price is $502.75. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The firm has a market capitalization of $330.22 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 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.