Chicago Partners Investment Group LLC Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Chicago Partners Investment Group LLC increased its holdings in Invesco QQQ by 9.4%, owning a total of 37,211 shares valued at approximately $17,984,000 at the end of the most recent quarter.
• A range of institutional investors also made new stakes in Invesco QQQ, with the percentage of stock owned by such entities currently at 44.58%.
• Invesco QQQ's shares were trading at $567.32, with a one-year low of $402.39 and a high of $574.63.

Chicago Partners Investment Group LLC increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,211 shares of the exchange traded fund's stock after purchasing an additional 3,198 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Invesco QQQ were worth $17,984,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ in the fourth quarter worth about $57,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of QQQ stock traded up $1.92 during trading hours on Thursday, reaching $569.24. 44,049,632 shares of the company traded hands, compared to its average volume of 44,292,076. The firm has a 50-day moving average price of $547.85 and a 200 day moving average price of $512.02. 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date 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.