Coordinated Financial Services Inc. Acquires Shares of 3,559 Invesco QQQ $QQQ

Coordinated Financial Services Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,559 shares of the exchange traded fund’s stock, valued at approximately $1,963,000. Invesco QQQ comprises 1.4% of Coordinated Financial Services Inc.’s investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds have also recently modified their holdings of QQQ. Marshall & Sullivan Inc. WA purchased a new position in shares of Invesco QQQ in the second quarter valued at about $41,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ in the first quarter valued at about $51,000. Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 3.5%

Shares of NASDAQ QQQ opened at $589.55 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The company’s 50-day moving average is $583.89 and its 200 day moving average is $535.94.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd.

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.