Affiance Financial LLC Has $1.21 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Affiance Financial LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 17.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,723 shares of the exchange traded fund’s stock after selling 583 shares during the quarter. Affiance Financial LLC’s holdings in Invesco QQQ were worth $1,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the 1st quarter worth approximately $29,000. Voisard Asset Management Group Inc. bought a new position in Invesco QQQ in the 4th quarter worth approximately $35,000. Red Tortoise LLC raised its position in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the last quarter. Robinson Capital Management LLC bought a new position in Invesco QQQ in the 4th quarter worth approximately $40,000. Finally, Friedenthal Financial bought a new position in Invesco QQQ in the 4th quarter worth approximately $41,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ stock traded up $1.68 during trading on Thursday, hitting $482.05. The company had a trading volume of 2,623,062 shares, compared to its average volume of 40,924,145. The firm has a 50-day moving average price of $451.31 and a 200-day moving average price of $435.05. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $486.86.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a $0.7615 dividend. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.