BOCHK Asset Management Ltd Acquires New Shares in Invesco QQQ $QQQ

Key Points

• BOCHK Asset Management Ltd has acquired 42,000 shares of Invesco QQQ, valued at approximately $23.17 million, making it the fund's 3rd largest position at 6.7% of its portfolio.
• Invesco QQQ recently announced a increased quarterly dividend of $0.694, up from the previous $0.59, with an annualized yield of 0.5%.
• The current share price of Invesco QQQ is $605.73, with a 1-year low of $402.39 and a high of $607.16.

BOCHK Asset Management Ltd acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 42,000 shares of the exchange traded fund's stock, valued at approximately $23,169,000. Invesco QQQ makes up 6.7% of BOCHK Asset Management Ltd's portfolio, making the stock its 3rd biggest position.

Several other hedge funds also recently modified their holdings of the company. Compass Financial Services Inc lifted its holdings in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after buying an additional 19 shares during the period. Vermillion Wealth Management Inc. lifted its holdings in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after buying an additional 20 shares during the period. MTM Investment Management LLC lifted its holdings 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 worth $613,000 after buying an additional 21 shares during the period. Cutler Investment Counsel LLC lifted its holdings 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 worth $710,000 after buying an additional 21 shares during the period. Finally, Occidental Asset Management LLC lifted its holdings in Invesco QQQ by 1.7% during the 2nd quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund's stock worth $678,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $605.73 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $607.16. The business's 50-day moving average is $579.12 and its 200-day moving average is $530.93.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

About Invesco QQQ

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.