Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,237 shares of the exchange traded fund’s stock after buying an additional 478 shares during the period. Magnus Financial Group LLC’s holdings in Invesco QQQ were worth $4,905,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $30,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ during the 1st quarter worth approximately $29,000. Legacy Bridge LLC increased its stake in shares of Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 2.0 %

Shares of QQQ traded down $9.42 during mid-day trading on Tuesday, reaching $466.85. 16,548,469 shares of the company’s stock were exchanged, compared to its average volume of 40,333,418. The company has a 50-day simple moving average of $474.19 and a two-hundred day simple moving average of $455.50. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Monday, June 24th.

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.