Kaydan Wealth Management Inc. Purchases 65 Shares of Invesco QQQ (NASDAQ:QQQ)

Kaydan Wealth Management Inc. grew its position in Invesco QQQ (NASDAQ:QQQ) by 1.0% during the 1st quarter, HoldingsChannel reports. The firm owned 6,694 shares of the exchange traded fund’s stock after purchasing an additional 65 shares during the quarter. Invesco QQQ comprises about 1.0% of Kaydan Wealth Management Inc.’s portfolio, making the stock its 17th largest holding. Kaydan Wealth Management Inc.’s holdings in Invesco QQQ were worth $2,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the 4th quarter worth $35,000. Red Tortoise LLC boosted its stake in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Robinson Capital Management LLC bought a new position in Invesco QQQ during the 4th quarter worth about $40,000. Finally, Friedenthal Financial acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at about $41,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $6.22 during trading on Monday, reaching $473.96. The stock had a trading volume of 37,634,086 shares, compared to its average volume of 41,490,461. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $486.86. The stock has a fifty day moving average price of $450.34 and a two-hundred day moving average price of $434.44.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.64%.

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.