Fortitude Financial LLC Increases Stock Holdings in Invesco QQQ $QQQ

Fortitude Financial LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 249.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,104 shares of the exchange traded fund’s stock after purchasing an additional 16,497 shares during the quarter. Invesco QQQ comprises approximately 8.1% of Fortitude Financial LLC’s portfolio, making the stock its 5th biggest holding. Fortitude Financial LLC’s holdings in Invesco QQQ were worth $12,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its holdings in Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. JPMorgan Chase & Co. grew its position in shares of Invesco QQQ by 42.4% in the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock valued at $2,700,424,000 after purchasing an additional 1,457,109 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Invesco QQQ by 0.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,223,327 shares of the exchange traded fund’s stock valued at $1,778,116,000 after purchasing an additional 22,220 shares during the period. HRT Financial LP lifted its holdings in Invesco QQQ by 118.3% during the 2nd quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund’s stock worth $1,735,226,000 after purchasing an additional 1,704,600 shares in the last quarter. Finally, Symphony Financial Ltd. Co. bought a new position in Invesco QQQ in the 2nd quarter worth about $1,236,482,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.5%

QQQ stock opened at $610.54 on Tuesday. The stock has a 50-day simple moving average of $613.69 and a two-hundred day simple moving average of $581.65. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01.

Invesco QQQ Increases Dividend

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

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.