Hoxton Planning & Management LLC Buys Shares of 2,402 Invesco QQQ (NASDAQ:QQQ)

Key Points

• Hoxton Planning & Management LLC has invested approximately $1.13 million in Invesco QQQ by purchasing 2,402 shares during the first quarter.
• Other institutional investors also bought stakes in Invesco QQQ, increasing institutional ownership to 44.58%.
• The latest dividend announcement for Invesco QQQ indicates a quarterly payment of $0.5911 per share, with an annualized dividend yield of 0.42%.

Hoxton Planning & Management LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,402 shares of the exchange traded fund's stock, valued at approximately $1,126,000.

Other hedge funds have also recently modified their holdings of the company. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the 4th quarter worth $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ during the 4th quarter valued at $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 2.0%

NASDAQ QQQ traded down $11.13 on Friday, reaching $553.88. 69,290,965 shares of the stock traded hands, compared to its average volume of 44,970,789. The company has a fifty day moving average price of $543.12 and a 200-day moving average price of $510.39. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63.

Invesco QQQ Cuts Dividend

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

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.