MJT & Associates Financial Advisory Group Inc. Purchases New Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• MJT & Associates Financial Advisory Group Inc. has acquired 448 shares of Invesco QQQ, valued at approximately $210,000, marking a new stake for the firm in the 1st quarter.
• Institutional investors own 44.58% of Invesco QQQ, with significant increases in stakes from firms like Ameriprise Financial and GAMMA Investing.
• The recent dividend announced for Invesco QQQ is $0.5911 per share with a low dividend yield of 0.42%, set to be paid on July 31st.

MJT & Associates Financial Advisory Group Inc. purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 448 shares of the exchange traded fund's stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of the business. Eagle Capital Management LLC grew its stake in Invesco QQQ by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after buying an additional 185 shares during the last quarter. Brighton Jones LLC grew its stake in shares of 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 during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Invesco QQQ by 3.5% in the fourth 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 during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Invesco QQQ by 34.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 14,592 shares of the exchange traded fund's stock valued at $7,460,000 after purchasing an additional 3,728 shares during the period. Finally, RWA Wealth Partners LLC increased its holdings in shares of Invesco QQQ by 319.3% in the fourth quarter. RWA Wealth Partners LLC now owns 34,510 shares of the exchange traded fund's stock valued at $17,643,000 after purchasing an additional 26,280 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.2%

Shares of NASDAQ:QQQ traded down $1.23 during trading on Thursday, reaching $566.80. The company had a trading volume of 46,448,206 shares, compared to its average volume of 44,644,965. The stock's fifty day moving average price is $542.10 and its 200 day moving average price is $509.98. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ 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.