Aspen Investment Management Inc Sells 871 Shares of Invesco QQQ $QQQ

Aspen Investment Management Inc cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 20.1% during the first quarter, Holdings Channel reports. The firm owned 3,452 shares of the exchange traded fund’s stock after selling 871 shares during the quarter. Aspen Investment Management Inc’s holdings in Invesco QQQ were worth $1,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goodman Advisory Group LLC purchased a new position in shares of Invesco QQQ in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Invesco QQQ during the fourth quarter worth $25,000. Shcp LLC purchased a new position in Invesco QQQ during the third quarter valued at $27,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Invesco QQQ by 2,150.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 43 shares in the last quarter. Finally, Rachor Investment Advisory Services LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $29,000. 44.58% of the stock is currently owned by institutional investors.

More Invesco QQQ News

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

• Positive Sentiment: Invesco QQQ declared a quarterly dividend of $0.8135 per share, an 11.0% increase from the prior quarter, which can improve investor sentiment toward the fund. Article Title
• Positive Sentiment: Multiple articles highlighted QQQ’s strong long-term performance, including commentary that a modest investment in the ETF a decade ago would now be worth far more, reinforcing its status as a premier growth benchmark. Article Title
• Neutral Sentiment: Broader market and ETF coverage showed U.S. equity funds trading higher at times, suggesting the macro backdrop is supportive but not specific to QQQ alone. Article Title
• Neutral Sentiment: Several Fed-related commentaries pointed to a more hawkish policy tone and less forward guidance, which could pressure rate-sensitive growth stocks even as investors assess the implications for the Nasdaq-100. Article Title

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $740.62 on Monday. Invesco QQQ has a 52 week low of $523.65 and a 52 week high of $748.65. The company’s fifty day simple moving average is $695.40 and its two-hundred day simple moving average is $639.64.

Invesco QQQ Increases Dividend

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

About Invesco QQQ

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.