Affiance Financial LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Affiance Financial LLC lessened its position in shares of Invesco QQQ (NASDAQ:QQQ) by 17.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $29,000. Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $35,000. Red Tortoise LLC grew its stake in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $41,000. Finally, Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.3 %

Shares of QQQ stock traded up $1.68 during midday 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 company’s 50 day simple moving average is $451.31 and its 200 day simple moving average is $435.05. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $486.86.

Invesco QQQ Increases Dividend

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