Iyo Bank Ltd. Invests $971,000 in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Iyo Bank Ltd. has acquired a new stake in Invesco QQQ, purchasing 2,070 shares valued at approximately $971,000 during the first quarter.
• Invesco QQQ's stock recently experienced a decline of 0.3%, with shares opening at $572.85, while the company's 12-month high reached $576.80.
• The company announced a quarterly dividend of $0.5911, which translates to an annualized dividend of $2.36 and a yield of 0.4%.

Iyo Bank Ltd. acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,070 shares of the exchange traded fund's stock, valued at approximately $971,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $2,775,904,000. Ameriprise Financial Inc. increased its stake in shares of Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after purchasing an additional 568,120 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ traded up $7.20 during mid-day trading on Tuesday, hitting $580.05. 42,061,779 shares of the company's stock were exchanged, compared to its average volume of 44,394,500. The firm has a fifty day moving average of $551.05 and a two-hundred day moving average of $512.86. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $580.35.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid 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.

About Invesco QQQ

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.