Allen Capital Group LLC Buys New Shares in Invesco QQQ (NASDAQ:QQQ)

Allen Capital Group LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 540 shares of the exchange traded fund’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NWI Management LP grew its position in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the period. Senator Investment Group LP acquired a new position in shares of Invesco QQQ in the fourth quarter worth about $679,936,000. Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ in the first quarter worth about $474,600,000. Finally, Asset Planning Services Inc. LA ADV lifted its position in shares of Invesco QQQ by 100,517.9% in the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund’s stock worth $437,375,000 after purchasing an additional 931,801 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $557.29 on Thursday. The company has a 50 day simple moving average of $531.45 and a 200-day simple moving average of $506.52. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $560.80.

Invesco QQQ Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.