Swisher Financial Concepts Inc. Takes $1.01 Million Position in Invesco QQQ $QQQ

Swisher Financial Concepts Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,824 shares of the exchange traded fund’s stock, valued at approximately $1,006,000. Invesco QQQ accounts for about 0.6% of Swisher Financial Concepts Inc.’s portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New Insight Wealth Advisors purchased a new stake in shares of Invesco QQQ in the 2nd quarter valued at approximately $220,000. Falcon Wealth Planning raised its stake in shares of Invesco QQQ by 10.2% in the 2nd quarter. Falcon Wealth Planning now owns 97,407 shares of the exchange traded fund’s stock valued at $53,734,000 after acquiring an additional 8,977 shares during the period. Beaumont Financial Advisors LLC raised its stake in shares of Invesco QQQ by 3.5% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 3,898 shares of the exchange traded fund’s stock valued at $2,151,000 after acquiring an additional 132 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of Invesco QQQ by 210.3% in the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 968 shares of the exchange traded fund’s stock valued at $534,000 after acquiring an additional 656 shares during the period. Finally, EdgeRock Capital LLC raised its stake in shares of Invesco QQQ by 2.4% in the 2nd quarter. EdgeRock Capital LLC now owns 11,772 shares of the exchange traded fund’s stock valued at $6,494,000 after acquiring an additional 276 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.4%

Shares of QQQ opened at $595.97 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The firm’s 50 day moving average price is $576.04 and its 200 day moving average price is $527.48.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.