TRU Independence Asset Management 2 LLC Buys 6,171 Shares of Invesco QQQ (NASDAQ:QQQ)

TRU Independence Asset Management 2 LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 272.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,432 shares of the exchange traded fund's stock after buying an additional 6,171 shares during the quarter. Invesco QQQ makes up 3.0% of TRU Independence Asset Management 2 LLC's holdings, making the stock its 9th largest holding. TRU Independence Asset Management 2 LLC's holdings in Invesco QQQ were worth $3,954,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Down 0.2%

Shares of Invesco QQQ stock traded down $1.25 on Friday, reaching $554.20. The stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,410,561. The company has a 50 day moving average price of $527.06 and a 200 day moving average price of $505.91. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $557.63.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.