Hobbs Group Advisors LLC Buys New Shares in Invesco QQQ (NASDAQ:QQQ)

Hobbs Group Advisors LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,908 shares of the exchange traded fund’s stock, valued at approximately $4,268,000. Invesco QQQ accounts for approximately 1.6% of Hobbs Group Advisors LLC’s holdings, making the stock its 14th largest position.

Other hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the first quarter worth about $28,000. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ in the first quarter worth about $29,000. Legacy Bridge LLC raised its position in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the fourth quarter worth about $35,000. Finally, Robinson Capital Management LLC acquired a new position in Invesco QQQ in the fourth quarter worth about $40,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded down $1.01 during mid-day trading on Tuesday, hitting $480.26. The company’s stock had a trading volume of 28,394,066 shares, compared to its average volume of 40,844,945. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The stock has a fifty day moving average of $474.69 and a 200-day moving average of $452.36.

Invesco QQQ Increases Dividend

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

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.