Sovereign Financial Group Inc. Has $13.25 Million Position in Invesco QQQ (NASDAQ:QQQ)

Sovereign Financial Group Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,362 shares of the exchange traded fund’s stock after buying an additional 8,251 shares during the quarter. Invesco QQQ makes up about 4.0% of Sovereign Financial Group Inc.’s investment portfolio, making the stock its 5th largest holding. Sovereign Financial Group Inc.’s holdings in Invesco QQQ were worth $13,253,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Red Tortoise LLC grew its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the period. Friedenthal Financial purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $41,000. Bear Mountain Capital Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth approximately $42,000. Core Wealth Advisors Inc. increased its stake in shares of Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares in the last quarter. Finally, Hexagon Capital Partners LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $53,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1 %

Shares of QQQ traded down $0.26 during trading hours on Wednesday, reaching $440.06. 24,728,024 shares of the stock traded hands, compared to its average volume of 45,326,637. Invesco QQQ has a 52-week low of $321.32 and a 52-week high of $449.34. The company’s 50-day moving average price is $436.66 and its two-hundred day moving average price is $414.00.

Invesco QQQ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th were given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, March 18th.

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.