Founders Capital Management Grows Stake in Invesco QQQ $QQQ

Founders Capital Management boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,597 shares of the exchange traded fund’s stock after buying an additional 236 shares during the quarter. Invesco QQQ makes up approximately 10.1% of Founders Capital Management’s investment portfolio, making the stock its biggest holding. Founders Capital Management’s holdings in Invesco QQQ were worth $16,879,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Compass Financial Services Inc lifted its position in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after acquiring an additional 19 shares during the period. Vermillion Wealth Management Inc. increased its holdings in shares of Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after purchasing an additional 20 shares during the period. MTM Investment Management LLC raised its stake in shares of Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after purchasing an additional 21 shares during the last quarter. Cutler Investment Counsel LLC raised its stake in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Finally, Occidental Asset Management LLC lifted its holdings in shares of Invesco QQQ by 1.7% during the second quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund’s stock worth $678,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5%

Shares of NASDAQ QQQ opened at $603.25 on Thursday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $603.79. The business’s 50 day moving average price is $578.30 and its 200 day moving average price is $530.08.

Invesco QQQ Increases Dividend

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

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.