Truvestments Capital LLC Purchases 2,283 Shares of Invesco QQQ $QQQ

Truvestments Capital LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 6.3% during the first quarter, Holdings Channel reports. The firm owned 38,297 shares of the exchange traded fund’s stock after buying an additional 2,283 shares during the period. Invesco QQQ comprises 3.9% of Truvestments Capital LLC’s holdings, making the stock its 3rd biggest holding. Truvestments Capital LLC’s holdings in Invesco QQQ were worth $17,958,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $1,018,000. Sentinus LLC raised its position in shares of Invesco QQQ by 17.6% during the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock valued at $3,307,000 after acquiring an additional 970 shares during the last quarter. Sendero Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $273,000. Cary Street Partners Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $10,052,000. Finally, Baird Financial Group Inc. raised its position in shares of Invesco QQQ by 4.0% during the 4th quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund’s stock valued at $167,394,000 after acquiring an additional 12,627 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ opened at $572.61 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The company has a fifty day simple moving average of $559.52 and a 200 day simple moving average of $516.36.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.