Banque Cantonale Vaudoise Takes $14.15 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Invesco QQQ, purchasing 30,167 shares valued at approximately $14.15 million, making it the bank's 21st largest holding.
• A variety of hedge funds have also invested in Invesco QQQ, with 44.58% of the stock now owned by institutional investors.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, which will be paid on July 31st, representing an annualized yield of 0.42%.

Banque Cantonale Vaudoise acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,167 shares of the exchange traded fund's stock, valued at approximately $14,145,000. Invesco QQQ makes up about 0.6% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the first quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ in the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 1.9%

QQQ traded down $10.84 during midday trading on Friday, hitting $554.17. The stock had a trading volume of 58,862,383 shares, compared to its average volume of 44,876,414. The business has a fifty 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 company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 annualized dividend and a yield of 0.4%.

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.