Frisch Financial Group Inc. Has $3.19 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Frisch Financial Group Inc. decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,663 shares of the exchange traded fund’s stock after selling 103 shares during the period. Invesco QQQ accounts for about 1.0% of Frisch Financial Group Inc.’s investment portfolio, making the stock its 22nd biggest holding. Frisch Financial Group Inc.’s holdings in Invesco QQQ were worth $3,192,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter worth $30,000. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth $29,000. Legacy Bridge LLC lifted its holdings in shares of Invesco QQQ by 800.0% in 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. bought a new position in shares of Invesco QQQ in the 4th quarter worth $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4 %

Shares of QQQ opened at $473.24 on Tuesday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The business’s fifty day moving average is $469.61 and its 200 day moving average is $457.60.

Invesco QQQ Increases Dividend

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

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.