Manchester Capital Management LLC Purchases 2,119 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Manchester Capital Management LLC increased its holdings in Invesco QQQ by 64.3% during the first quarter, now owning 5,417 shares worth approximately $2,540,000.
• Invesco QQQ's stock recently decreased by 2.0%, opening at $553.88 with a 52-week range of $402.39 to $574.63.
• The company has cut its dividend, with a recent quarterly payment of $0.5911 per share, resulting in a yield of 0.4%.

Manchester Capital Management LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 64.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,417 shares of the exchange traded fund's stock after acquiring an additional 2,119 shares during the period. Manchester Capital Management LLC's holdings in Invesco QQQ were worth $2,540,000 at the end of the most recent reporting period.

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

Invesco QQQ Price Performance

NASDAQ QQQ traded down $3.83 on Tuesday, reaching $560.27. The company's stock had a trading volume of 48,383,547 shares, compared to its average volume of 45,012,852. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63. The firm's 50 day moving average is $545.11 and its two-hundred day moving average is $510.97.

Invesco QQQ Cuts Dividend

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