AIA Group Ltd Invests $74.86 Million in Invesco QQQ (NASDAQ:QQQ)

Key Points

• AIA Group Ltd has acquired 159,635 shares of Invesco QQQ, valued at approximately $74.9 million, which holds a significant position in its portfolio as the 6th largest investment.
• Other investors, including Goldman Sachs and Ameriprise Financial, have also increased their stakes in Invesco QQQ, with Goldman Sachs raising its stake by an impressive 959.6%.
• Invesco QQQ recently cut its quarterly dividend to $0.5911 per share, reflecting a 0.4% yield, as it navigates current market conditions.

AIA Group Ltd acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 159,635 shares of the exchange traded fund's stock, valued at approximately $74,856,000. Invesco QQQ accounts for approximately 1.8% of AIA Group Ltd's portfolio, making the stock its 6th biggest position.

A number of other large investors have also modified their holdings of QQQ. Goldman Sachs Group Inc. increased its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ in the first quarter valued at $2,775,904,000. NWI Management LP increased its holdings in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in Invesco QQQ by 55,795.2% in the first 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 during the last quarter. Finally, Senator Investment Group LP purchased a new position in Invesco QQQ in the fourth quarter valued at $679,936,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded up $7.20 during trading hours on Tuesday, hitting $580.05. The company's stock had a trading volume of 42,061,779 shares, compared to its average volume of 44,394,500. The stock has a fifty day moving average of $551.05 and a 200-day moving average of $512.86. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $580.35.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid 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.