Kaye Capital Management Purchases 1,837 Shares of Invesco QQQ (NASDAQ:QQQ)

Kaye Capital Management lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,782 shares of the exchange traded fund’s stock after buying an additional 1,837 shares during the quarter. Invesco QQQ makes up about 7.8% of Kaye Capital Management’s holdings, making the stock its 4th largest position. Kaye Capital Management’s holdings in Invesco QQQ were worth $19,124,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in QQQ. Wilkins Miller Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth about $1,018,000. Grant Private Wealth Management Inc purchased a new position in shares of Invesco QQQ in the 4th quarter worth $815,000. Gemsstock Ltd. boosted its holdings in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after acquiring an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC purchased a new position in Invesco QQQ in the fourth quarter valued at approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its position in Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock worth $75,071,000 after purchasing an additional 2,600 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.4%

QQQ stock opened at $556.21 on Tuesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $559.98. The stock has a 50-day simple moving average of $528.46 and a 200-day simple moving average of $505.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Company 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.