Financial Connections Group Inc. Grows Holdings in Invesco QQQ $QQQ

Financial Connections Group Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 47.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 210 shares of the exchange traded fund’s stock after buying an additional 68 shares during the period. Financial Connections Group Inc.’s holdings in Invesco QQQ were worth $115,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc grew its holdings in shares of Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. boosted its holdings in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after acquiring an additional 20 shares during the period. Barrett & Company Inc. boosted its holdings in Invesco QQQ by 14.9% during the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after acquiring an additional 20 shares during the period. MTM Investment Management LLC boosted its stake in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock valued at $613,000 after purchasing an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC boosted its stake in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock valued at $710,000 after purchasing an additional 21 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $589.55 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The firm has a 50-day moving average of $583.89 and a two-hundred day moving average of $536.30.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.