Folger Nolan Fleming Douglas Capital Management Inc. Purchases New Shares in Invesco QQQ $QQQ

Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,148 shares of the exchange traded fund’s stock, valued at approximately $3,549,000.

Several other institutional investors also recently modified their holdings of QQQ. Midwest Financial Partners Investments Inc. lifted its holdings in Invesco QQQ by 9.9% in the first quarter. Midwest Financial Partners Investments Inc. now owns 1,000 shares of the exchange traded fund’s stock valued at $577,000 after acquiring an additional 90 shares during the period. Pathway Financial Advisers LLC raised its stake in Invesco QQQ by 20.0% during the 1st quarter. Pathway Financial Advisers LLC now owns 2,164 shares of the exchange traded fund’s stock valued at $1,249,000 after purchasing an additional 361 shares during the period. Spinnaker Trust raised its position in shares of Invesco QQQ by 1.2% during the first quarter. Spinnaker Trust now owns 41,421 shares of the exchange traded fund’s stock valued at $23,907,000 after buying an additional 490 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in Invesco QQQ by 21.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,235 shares of the exchange traded fund’s stock valued at $713,000 after acquiring an additional 218 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in shares of Invesco QQQ by 4.7% in the first quarter. Forum Financial Management LP now owns 6,298 shares of the exchange traded fund’s stock worth $3,635,000 after buying an additional 282 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.7%

QQQ stock opened at $736.40 on Wednesday. Invesco QQQ has a 52 week low of $544.66 and a 52 week high of $748.65. The company has a fifty day simple moving average of $708.42 and a two-hundred day simple moving average of $644.38.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be given a $0.8135 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $3.25 annualized dividend and a yield of 0.4%.

Key Stories Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: The Nasdaq and broader U.S. equity markets moved higher into month-end, helping support QQQ as investors rotated back into large-cap technology and growth names. Stock Market Today: Nasdaq Shows Its Might; This Tech Player Hits A New High (Live Coverage)
• Positive Sentiment: Several pieces pointed to continued strength in Nasdaq-100 ETFs, arguing the index still has room to climb and that seasonality, improving breadth, and technical momentum could keep inflows coming. 3 Reasons Investors Should Buy in July
• Positive Sentiment: SpaceX’s planned July 7 entry into the Nasdaq-100 could trigger estimated passive inflows into index funds that track the benchmark, including QQQ, creating a near-term demand tailwind. SpaceX Achieves Escape Velocity With Nasdaq Fast-Track
• Neutral Sentiment: Some commentary warned that the tech rally may be stretched, citing concentration risk in mega-cap names and prior weakness in the Nasdaq 100, which could temper enthusiasm for QQQ. Nasdaq 100 Flashes Warning Signs After 5-Day Slide: Is The Tech Rally Running Out Of Steam?
• Neutral Sentiment: Articles debating whether investors should hedge or diversify beyond mega-caps highlight concern about QQQ’s heavy tech concentration, but they do not signal an immediate fundamental problem for the fund. It’s Time To Hedge

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.