MADDEN SECURITIES Corp Buys Shares of 5,776 Invesco QQQ Trust (NASDAQ:QQQ)
MADDEN SECURITIES Corp acquired a new stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,776 shares of the exchange traded fund’s stock, valued at approximately $1,430,000. Invesco QQQ Trust comprises approximately 1.3% of MADDEN SECURITIES Corp’s portfolio, making the stock its 23rd largest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Arrow Financial Corp acquired a new stake in shares of Invesco QQQ Trust during the first quarter valued at $27,000. Engrave Wealth Partners LLC purchased a new position in Invesco QQQ Trust during the fourth quarter worth about $31,000. Howe & Rusling Inc. lifted its position in Invesco QQQ Trust by 3,080.0% during the first quarter. Howe & Rusling Inc. now owns 159 shares of the exchange traded fund’s stock worth $30,000 after buying an additional 154 shares during the period. Financial Advantage Inc. purchased a new position in Invesco QQQ Trust during the first quarter worth about $31,000. Finally, OmniStar Financial Group Inc. purchased a new position in Invesco QQQ Trust during the first quarter worth about $39,000. 42.71% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine downgraded Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.424 per share. This is an increase from Invesco QQQ Trust’s previous quarterly dividend of $0.39. This represents a $1.70 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, June 22nd.
About Invesco QQQ Trust
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.
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