Financial Management Network Inc. Raises Stock Holdings in Invesco QQQ $QQQ

Financial Management Network Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,454 shares of the exchange traded fund’s stock after purchasing an additional 251 shares during the quarter. Financial Management Network Inc.’s holdings in Invesco QQQ were worth $3,034,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QQQ. Brighton Jones LLC lifted its position in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after acquiring an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after acquiring an additional 176 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $11,247,000. White Knight Strategic Wealth Advisors LLC lifted its position in shares of Invesco QQQ by 99.4% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 1,428 shares of the exchange traded fund’s stock valued at $730,000 after acquiring an additional 712 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Invesco QQQ by 1.1% in the fourth quarter. Continuum Advisory LLC now owns 30,400 shares of the exchange traded fund’s stock valued at $15,541,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $590.00 on Thursday. The stock’s 50 day simple moving average is $570.49 and its 200-day simple moving average is $522.22. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $592.86.

Invesco QQQ Cuts Dividend

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