BluePointe Capital Management LLC Acquires Shares of 673 Invesco QQQ (NASDAQ:QQQ)

BluePointe Capital Management LLC acquired a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 673 shares of the exchange traded fund's stock, valued at approximately $316,000.

A number of other institutional investors have also made changes to their positions in QQQ. Graybill Wealth Management LTD. bought a new position in Invesco QQQ during the first quarter valued at about $188,000. Firestone Capital Management increased its stake in Invesco QQQ by 18.5% during the first quarter. Firestone Capital Management now owns 1,289 shares of the exchange traded fund's stock valued at $604,000 after acquiring an additional 201 shares during the period. Strata Wealth Advisors LLC increased its stake in Invesco QQQ by 13.7% during the first quarter. Strata Wealth Advisors LLC now owns 1,410 shares of the exchange traded fund's stock valued at $661,000 after acquiring an additional 170 shares during the period. LJI Wealth Management LLC increased its stake in Invesco QQQ by 2.8% during the first quarter. LJI Wealth Management LLC now owns 27,868 shares of the exchange traded fund's stock valued at $13,068,000 after acquiring an additional 762 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in Invesco QQQ by 418.8% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 546,263 shares of the exchange traded fund's stock valued at $256,154,000 after acquiring an additional 440,968 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.1%

NASDAQ QQQ traded up $0.57 during trading on Wednesday, reaching $557.29. 52,175,503 shares of the company traded hands, compared to its average volume of 39,562,368. The stock's 50 day moving average price is $531.45 and its two-hundred day moving average price is $506.52. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $560.80.

Invesco QQQ Cuts Dividend

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

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.