Baird Financial Group Inc. Has $170.60 Million Stake in Invesco QQQ $QQQ

Key Points

• Baird Financial Group Inc. increased its stake in Invesco QQQ by 11.1%, acquiring an additional 36,379 shares, bringing its total holdings to 363,812 shares worth approximately $170.6 million.
• Goldman Sachs Group boosted its position in Invesco QQQ by an astonishing 959.6%, now owning over 24 million shares valued at around $11.3 billion.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, which reflects an annualized yield of 0.4%.

Baird Financial Group Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,812 shares of the exchange traded fund's stock after buying an additional 36,379 shares during the period. Baird Financial Group Inc. owned approximately 0.06% of Invesco QQQ worth $170,599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after buying an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. raised its stake in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC raised its stake in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares during the period. Cutler Investment Counsel LLC raised its stake in Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after purchasing an additional 21 shares during the period. Finally, Mosaic Family Wealth Partners LLC raised its stake in Invesco QQQ by 1.6% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock valued at $707,000 after purchasing an additional 22 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $4.69 during trading hours on Tuesday, hitting $565.71. 58,590,428 shares of the stock traded hands, compared to its average volume of 44,999,305. The firm has a 50 day moving average price of $563.01 and a 200 day moving average price of $517.40. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.