AM Investment Strategies LLC Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• AM Investment Strategies LLC increased its holdings in Invesco QQQ by 46.5%, acquiring an additional 612 shares, bringing its total to 1,927 shares valued at approximately $904,000.
• A range of other institutional investors also adjusted their positions in Invesco QQQ, with total institutional ownership standing at 44.58% of the stock.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, which will be paid on July 31st, with a dividend yield of 0.42% as of the annual basis.

AM Investment Strategies LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 46.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,927 shares of the exchange traded fund's stock after purchasing an additional 612 shares during the period. AM Investment Strategies LLC's holdings in Invesco QQQ were worth $904,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $1.36 during trading on Friday, hitting $566.37. 30,579,821 shares of the stock traded hands, compared to its average volume of 40,473,144. The firm's fifty day moving average is $539.14 and its 200-day moving average is $508.84. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $567.70.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Profile

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.