SCS Capital Management LLC Buys Shares of 48,005 Invesco QQQ $QQQ

SCS Capital Management LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,005 shares of the exchange traded fund’s stock, valued at approximately $22,519,000.

Several other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC raised its stake in shares of Invesco QQQ by 16.3% in the first quarter. McIlrath & Eck LLC now owns 23,756 shares of the exchange traded fund’s stock valued at $11,140,000 after buying an additional 3,336 shares during the period. Empowered Funds LLC raised its stake in shares of Invesco QQQ by 484.4% in the first quarter. Empowered Funds LLC now owns 28,437 shares of the exchange traded fund’s stock valued at $13,335,000 after buying an additional 23,571 shares during the period. Northeast Financial Consultants Inc raised its stake in shares of Invesco QQQ by 0.8% in the first quarter. Northeast Financial Consultants Inc now owns 183,918 shares of the exchange traded fund’s stock valued at $86,243,000 after buying an additional 1,518 shares during the period. Faithward Advisors LLC raised its stake in shares of Invesco QQQ by 10.2% in the first quarter. Faithward Advisors LLC now owns 8,776 shares of the exchange traded fund’s stock valued at $4,115,000 after buying an additional 809 shares during the period. Finally, Ascent Group LLC raised its stake in shares of Invesco QQQ by 10.9% in the first quarter. Ascent Group LLC now owns 1,566 shares of the exchange traded fund’s stock valued at $735,000 after buying an additional 154 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.5%

NASDAQ:QQQ opened at $578.87 on Tuesday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $583.32. The business’s fifty day moving average is $565.79 and its 200 day moving average is $518.70.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.