Liberty Wealth Management LLC Buys 311,277 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Liberty Wealth Management LLC significantly increased its investment in Invesco QQQ by 11,286.3%, acquiring 314,035 shares, making it the company's sixth largest position.
• Invesco QQQ shares recently traded at $553.88, with a 52-week range between $402.39 and $574.63.
• The company announced a quarterly dividend of $0.5911 per share, yielding approximately 0.4% annually.

Liberty Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11,286.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,035 shares of the exchange traded fund's stock after acquiring an additional 311,277 shares during the quarter. Invesco QQQ makes up approximately 2.7% of Liberty Wealth Management LLC's holdings, making the stock its 6th largest position. Liberty Wealth Management LLC owned 0.05% of Invesco QQQ worth $147,257,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QQQ. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ in the first quarter worth $2,775,904,000. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after purchasing an additional 568,120 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Invesco QQQ by 18.1% during the first quarter. TD Asset Management Inc now owns 1,378,074 shares of the exchange traded fund's stock valued at $646,206,000 after purchasing an additional 210,894 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.3%

Shares of NASDAQ QQQ traded up $7.05 during mid-day trading on Wednesday, hitting $567.32. 40,595,603 shares of the company traded hands, compared to its average volume of 44,954,859. The business has a 50 day moving average of $545.89 and a two-hundred day moving average of $511.31. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63.

Invesco QQQ Cuts Dividend

The company also recently announced 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend 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.