Blue Oak Capital LLC Takes Position in Invesco QQQ $QQQ

Key Points

• Blue Oak Capital LLC purchased 12,114 shares of Invesco QQQ, valued at approximately $5.7 million, making it the firm's 11th largest holding.
• Other investors, including CBIZ Investment Advisory Services and Jones Financial Companies, also increased their stakes in Invesco QQQ during the first quarter.
• Invesco QQQ recently cut its quarterly dividend to $0.5911, resulting in an annualized yield of 0.4%.

Blue Oak Capital LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,114 shares of the exchange traded fund's stock, valued at approximately $5,689,000. Invesco QQQ comprises approximately 3.1% of Blue Oak Capital LLC's portfolio, making the stock its 11th largest holding.

A number of other large investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its stake in shares of Invesco QQQ by 3.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 409,205 shares of the exchange traded fund's stock valued at $191,888,000 after acquiring an additional 13,729 shares during the last quarter. Modern Wealth Management LLC lifted its stake in shares of Invesco QQQ by 7.2% in the 1st quarter. Modern Wealth Management LLC now owns 86,867 shares of the exchange traded fund's stock valued at $40,734,000 after acquiring an additional 5,853 shares during the last quarter. Plum Street Advisors LLC lifted its stake in shares of Invesco QQQ by 13.4% in the 1st quarter. Plum Street Advisors LLC now owns 450 shares of the exchange traded fund's stock valued at $211,000 after acquiring an additional 53 shares during the last quarter. Apeiron RIA LLC bought a new position in shares of Invesco QQQ in the 1st quarter valued at $253,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Invesco QQQ by 49.1% in the 1st quarter. Jones Financial Companies Lllp now owns 251,774 shares of the exchange traded fund's stock valued at $118,067,000 after acquiring an additional 82,882 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $584.08 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $584.88. The stock has a fifty day simple moving average of $567.63 and a 200 day simple moving average of $519.99.

Invesco QQQ Cuts Dividend

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

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