Stonebridge Financial Group LLC Has $2.43 Million Holdings in Invesco QQQ $QQQ

Stonebridge Financial Group LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 4,403 shares of the exchange traded fund’s stock after buying an additional 111 shares during the period. Stonebridge Financial Group LLC’s holdings in Invesco QQQ were worth $2,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GSG Advisors LLC raised its position in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock valued at $3,600,000 after buying an additional 585 shares in the last quarter. Amundi raised its position in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock valued at $49,980,000 after buying an additional 6,600 shares in the last quarter. Jackson Wealth Management LLC raised its position in shares of Invesco QQQ by 8.6% in the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock valued at $9,428,000 after buying an additional 1,586 shares in the last quarter. Greykasell Wealth Strategies Inc. raised its position in shares of Invesco QQQ by 8.4% in the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock valued at $3,649,000 after buying an additional 605 shares in the last quarter. Finally, AM Investment Strategies LLC raised its position in shares of Invesco QQQ by 46.5% in the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock valued at $904,000 after buying an additional 612 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ opened at $589.55 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18. The firm has a 50 day simple moving average of $583.89 and a two-hundred day simple moving average of $535.94.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 0.5%. The ex-dividend date is Monday, September 22nd.

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.