Fiduciary Wealth Partners LLC Invests $4.37 Million in Invesco QQQ (NASDAQ:QQQ)

Fiduciary Wealth Partners LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,320 shares of the exchange traded fund's stock, valued at approximately $4,370,000. Invesco QQQ accounts for 3.8% of Fiduciary Wealth Partners LLC's holdings, making the stock its 5th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. Ameriprise Financial Inc. grew its holdings in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after purchasing an additional 568,120 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Invesco QQQ by 18.1% during the 1st quarter. TD Asset Management Inc now owns 1,378,074 shares of the exchange traded fund's stock worth $646,206,000 after purchasing an additional 210,894 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $553.88 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63. The stock has a 50-day moving average of $544.01 and a 200-day moving average of $510.73.

Invesco QQQ Cuts Dividend

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

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