360 Financial Inc. Invests $12.61 Million in Invesco QQQ (NASDAQ:QQQ)

Key Points

• 360 Financial Inc. acquired a total of 26,892 shares of Invesco QQQ, valued at approximately $12,610,000, in the first quarter, marking it as the firm's 7th biggest holding.
• Other institutional investors, including Woodley Farra Manion Portfolio Management Inc. and Mesirow Financial Investment Management Inc., also increased their positions in Invesco QQQ.
• Invesco QQQ's shares experienced a 0.2% decline recently, with a 1-year low of $402.39 and a high of $572.11, while the firm has also announced a dividend payment of $0.5911 scheduled for July 31st.

360 Financial Inc. bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,892 shares of the exchange traded fund's stock, valued at approximately $12,610,000. Invesco QQQ comprises about 4.6% of 360 Financial Inc.'s holdings, making the stock its 7th largest position.

Other large investors also recently bought and sold shares of the company. NWI Management LP raised its stake in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC grew its holdings in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new stake in Invesco QQQ in the 4th quarter valued at $679,936,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ in the 1st quarter valued at $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its holdings in Invesco QQQ by 100,517.9% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock valued at $437,375,000 after buying an additional 931,801 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 2.0%

NASDAQ:QQQ traded down $11.13 during trading hours on Friday, hitting $553.88. The company had a trading volume of 69,249,870 shares, compared to its average volume of 44,967,387. The company has a 50-day moving average of $543.12 and a 200 day moving average of $510.39. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.