EFG Asset Management Americas Corp. Acquires New Shares in Invesco QQQ (NASDAQ:QQQ)

Key Points

• EFG Asset Management Americas Corp. acquired a new position in Invesco QQQ, purchasing 7,945 shares for approximately $3.7 million.
• Institutional investors have significantly increased their holdings, with Ameriprise Financial and Price T Rowe Associates raising their stakes by 20.2% and 34.8% respectively in the last quarter.
• Invesco QQQ announced a quarterly dividend of $0.5911, set to be paid on July 31st, representing an annualized dividend yield of 0.42%.

EFG Asset Management Americas Corp. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,945 shares of the exchange traded fund's stock, valued at approximately $3,726,000.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC boosted its holdings in shares of Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after purchasing an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. boosted its holdings in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the last quarter. MTM Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC boosted its holdings in shares of 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 purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 2.0%

Shares of Invesco QQQ stock traded down $11.13 on Friday, hitting $553.88. 69,290,965 shares of the company were exchanged, compared to its average volume of 44,970,789. The company has a 50-day moving average price of $543.12 and a 200 day moving average price 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 firm 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. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a 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.