Flavin Financial Services Inc. Invests $1.91 Million in Invesco QQQ (NASDAQ:QQQ)

Flavin Financial Services Inc. has entered the investment scene with its recent acquisition of Invesco QQQ (NASDAQ:QQQ - Free Report). According to a recent filing with the Securities and Exchange Commission (SEC), the firm invested $1.91 million in this exchange-traded fund (ETF). Specifically, Flavin Financial Services acquired 3,725 shares of QQQ, marking this as a new position in their portfolio.

Invesco QQQ accounts for approximately 1.8% of the total portfolio of Flavin Financial Services, making it the firm's 22nd largest investment. This highlights the strategic move of the firm to diversify and hold a stake in one of the most recognized technology-focused ETFs.

Investment Trends in Invesco QQQ

Flavin Financial Services Inc. is not alone in its interest in Invesco QQQ. Several other institutional investors and hedge funds have been adjusting their holdings in QQQ, indicating a growing trend in the ETF's popularity. One significant player, International Assets Investment Management LLC, substantially increased its stake by an impressive 46,491.6% in the third quarter. After this increase, they now hold 32,586,150 shares valued at around $15.9 billion.

Additionally, Toronto Dominion Bank raised its position by 13.0%, bringing its total to 4,261,790 shares worth about $2.08 billion after acquiring nearly 489,000 additional shares. CIBC World Market Inc. also boosted its holdings in the fourth quarter, increasing its shares by 90.0% to own 686,117 shares valued at approximately $350.8 million.

Empirical Asset Management LLC's increase was even more dramatic, growing its stake by 15,676.3% last quarter, now owning 202,883 shares worth $103.7 million. Lastly, Main Management ETF Advisors LLC added 33.5% to their stake, bringing their total to 731,920 shares valued at around $357.2 million. Overall, hedge funds and institutional investors own approximately 44.58% of Invesco QQQ, showcasing strong interest in this ETF.

Performance and Dividends

Turning to the performance of Invesco QQQ, the stock opened at $518.11 recently. Over the past year, it has seen a low of $413.07 and a high of $539.15. The 50-day moving average price stands at $519.55, while the 200-day average is $494.20, indicating a strong upward trend.

Furthermore, Invesco QQQ announced a recent dividend, which was paid to shareholders on December 31st. Investors who were on record by December 23rd received a dividend payment of $0.8347. This kind of dividend announcement often attracts investors looking for additional income from their stock holdings.

Understanding Invesco QQQ

Invesco QQQ Trust, Series 1, primarily serves as a fund that aims to replicate the performance of the Nasdaq-100 Index. The ETF is designed to provide investors with shares that represent equal undivided interests in the underlying securities, which include many of the leading technology companies. This investment vehicle gives shareholders the opportunity to gain exposure to a diversified portfolio of high-growth stocks.

In summary, the investment trends and performance metrics surrounding Invesco QQQ suggest it remains a key player in the ETF landscape, attracting significant interest from institutional investors and providing opportunities for individual shareholders.

Investment, ETFs, Finance