Union Savings Bank Invests $2.32 Million in Invesco QQQ $QQQ

Union Savings Bank acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, Holdings Channel.com reports. The firm acquired 3,773 shares of the exchange traded fund’s stock, valued at approximately $2,318,000. Invesco QQQ accounts for 1.0% of Union Savings Bank’s portfolio, making the stock its 18th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Goodman Advisory Group LLC bought a new stake in Invesco QQQ in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $25,000. Shcp LLC bought a new position in shares of Invesco QQQ during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Invesco QQQ by 2,150.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $29,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $740.62 on Friday. Invesco QQQ has a twelve month low of $523.65 and a twelve month high of $748.65. The company has a fifty day moving average of $695.40 and a 200-day moving average of $639.48.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be paid a $0.8135 dividend. This represents a $3.25 annualized dividend and a yield of 0.4%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, June 22nd.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Invesco QQQ declared a quarterly dividend of $0.8135 per share, an 11.0% increase from the prior quarter, which can improve investor sentiment toward the fund. Article Title
• Positive Sentiment: Multiple articles highlighted QQQ’s strong long-term performance, including commentary that a modest investment in the ETF a decade ago would now be worth far more, reinforcing its status as a premier growth benchmark. Article Title
• Neutral Sentiment: Broader market and ETF coverage showed U.S. equity funds trading higher at times, suggesting the macro backdrop is supportive but not specific to QQQ alone. Article Title
• Neutral Sentiment: Several Fed-related commentaries pointed to a more hawkish policy tone and less forward guidance, which could pressure rate-sensitive growth stocks even as investors assess the implications for the Nasdaq-100. Article Title

Invesco QQQ 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.