Sovereign Financial Group Inc. Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Sovereign Financial Group Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 35,491 shares of the exchange traded fund’s stock after acquiring an additional 296 shares during the period. Invesco QQQ accounts for about 3.8% of Sovereign Financial Group Inc.’s portfolio, making the stock its 5th biggest position. Sovereign Financial Group Inc.’s holdings in Invesco QQQ were worth $16,643,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of QQQ. PayPay Securities Corp lifted its stake in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter worth $36,000. Roxbury Financial LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Invesco QQQ during the 4th quarter worth $51,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $529.92 on Friday. The stock has a market capitalization of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The business’s fifty day moving average is $483.20 and its 200-day moving average is $501.88.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.