Kavar Capital Partners Group LLC Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Kavar Capital Partners Group LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,026 shares of the exchange traded fund’s stock after buying an additional 65 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Invesco QQQ were worth $481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $50,000. Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $57,000. Finally, Perritt Capital Management Inc bought a new position in Invesco QQQ during the 4th quarter valued at approximately $61,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $541.16 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $543.31. The business’s fifty day simple moving average is $505.63 and its two-hundred day simple moving average is $503.71.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, June 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.