SlateStone Wealth LLC Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• SlateStone Wealth LLC increased its holdings in Invesco QQQ by 9.2%, owning a total of 6,046 shares worth approximately $2.83 million.
• Shares of Invesco QQQ saw a slight decline of 0.2% and are currently trading at $567.26, with a one-year high of $572.11 and a low of $402.39.
• The company declared a quarterly dividend of $0.5911 per share, representing an annualized dividend of $2.36 and a yield of 0.42%.

SlateStone Wealth LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,046 shares of the exchange traded fund's stock after purchasing an additional 507 shares during the period. SlateStone Wealth LLC's holdings in Invesco QQQ were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth $36,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the first quarter worth $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the first quarter worth $51,000. Finally, Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded down $11.13 during trading on Friday, hitting $553.88. The company's stock had a trading volume of 69,249,870 shares, compared to its average volume of 44,967,387. The stock's fifty day moving average is $543.12 and its 200 day moving average is $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 business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend 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.