Fortress Financial Group LLC Increases Position in Invesco QQQ (NASDAQ:QQQ)

Fortress Financial Group LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,943 shares of the exchange traded fund’s stock after buying an additional 115 shares during the quarter. Invesco QQQ accounts for approximately 2.8% of Fortress Financial Group LLC’s portfolio, making the stock its 9th largest holding. Fortress Financial Group LLC’s holdings in Invesco QQQ were worth $2,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Proficio Capital Partners LLC boosted its holdings in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Invesco QQQ by 47,853.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. NWI Management LP boosted its holdings in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Finally, Senator Investment Group LP purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $679,936,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 1.0%

Invesco QQQ stock opened at $529.92 on Friday. The firm has a 50-day moving average of $483.20 and a 200-day moving average of $501.88. The firm has a market cap of $332.07 billion, a P/E ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.