Fountainhead AM LLC Grows Holdings in Invesco QQQ (NASDAQ:QQQ)

Fountainhead AM LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 58.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,293 shares of the exchange traded fund’s stock after buying an additional 2,326 shares during the quarter. Fountainhead AM LLC’s holdings in Invesco QQQ were worth $2,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ during the fourth quarter worth about $57,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.1%

Shares of NASDAQ:QQQ traded down $0.54 during midday trading on Friday, reaching $561.26. The company had a trading volume of 50,428,921 shares, compared to its average volume of 39,504,546. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $564.73. The company has a fifty day simple moving average of $534.38 and a two-hundred day simple moving average of $507.18.

Invesco QQQ Cuts Dividend

The firm 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 dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

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.