Invesco QQQ $QQQ Shares Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC significantly increased its stake in Invesco QQQ by 580.2%, making it the fund's 6th largest holding, valued at approximately $22.25 million.
• Invesco QQQ's stock opened at $570.32, with a 12-month range between $402.39 and $583.32.
• The fund recently announced a quarterly dividend of $0.5911 per share, which translates to an annualized yield of 0.4%.

Redwood Investment Management LLC increased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 580.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,458 shares of the exchange traded fund's stock after buying an additional 40,481 shares during the quarter. Invesco QQQ comprises about 2.4% of Redwood Investment Management LLC's investment portfolio, making the stock its 6th biggest position. Redwood Investment Management LLC's holdings in Invesco QQQ were worth $22,254,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Eagle Capital Management LLC increased its holdings in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares in the last quarter. Brighton Jones LLC increased its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares in the last quarter. First Trust Advisors LP acquired a new stake in Invesco QQQ in the 4th quarter valued at $610,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the 4th quarter valued at $36,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.2%

NASDAQ QQQ traded up $0.88 during trading hours on Wednesday, hitting $573.49. The company had a trading volume of 36,686,193 shares, compared to its average volume of 46,663,848. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The firm's 50 day moving average is $560.41 and its 200 day moving average is $516.76.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a 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.