Retirement Planning Co of New England Inc. Has $8.09 Million Position in Invesco QQQ $QQQ

Key Points

• Retirement Planning Co of New England Inc. increased its stake in Invesco QQQ by 40.4% in the 1st quarter, making it the firm's largest holding at $8,085,000.
• Goldman Sachs Group Inc. significantly raised its position in Invesco QQQ by 959.6%, now owning over 24 million shares valued at approximately $11.3 billion.
• The 1st quarter also saw a decline in Invesco QQQ's quarterly dividend, with a current yield of 0.4%, following a recent dividend payment of $0.5911 per share.

Retirement Planning Co of New England Inc. grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 40.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,241 shares of the exchange traded fund's stock after purchasing an additional 4,958 shares during the quarter. Invesco QQQ comprises approximately 3.0% of Retirement Planning Co of New England Inc.'s investment portfolio, making the stock its biggest position. Retirement Planning Co of New England Inc.'s holdings in Invesco QQQ were worth $8,085,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in QQQ. Laird Norton Wetherby Wealth Management LLC lifted its stake in Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after purchasing an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. lifted its stake in Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the last quarter. MTM Investment Management LLC lifted its stake in Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares during the last quarter. Cutler Investment Counsel LLC lifted its stake in Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC lifted its stake in Invesco QQQ by 1.6% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after purchasing an additional 22 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.8%

NASDAQ QQQ traded up $4.45 on Wednesday, hitting $570.07. 54,085,885 shares of the company's stock were exchanged, compared to its average volume of 45,126,477. The stock has a 50-day moving average of $563.53 and a 200-day moving average of $517.73. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32.

Invesco QQQ Cuts Dividend

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