Financial Advisors Network Inc. Has $574,000 Position in Invesco QQQ $QQQ

Financial Advisors Network Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the exchange traded fund’s stock after purchasing an additional 25 shares during the quarter. Financial Advisors Network Inc.’s holdings in Invesco QQQ were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in QQQ. Goldman Sachs Group Inc. raised its holdings in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $2,775,904,000. NWI Management LP raised its holdings in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Finally, Senator Investment Group LP acquired a new position in shares of Invesco QQQ during the 4th quarter worth $679,936,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $577.34 on Monday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32. The stock has a fifty day moving average of $554.13 and a 200-day moving average of $514.06.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ 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.