Mount Lucas Management LP purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 51,317 shares of the exchange traded fund's stock, valued at approximately $24,064,000. Invesco QQQ makes up 7.7% of Mount Lucas Management LP's investment portfolio, making the stock its 2nd largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilkins Miller Wealth Management LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc bought a new stake in Invesco QQQ in the 4th quarter valued at $815,000. Gemsstock Ltd. lifted its position in Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $4,623,000. Finally, Wescott Financial Advisory Group LLC lifted its position in Invesco QQQ by 1.8% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.
Invesco QQQ Trading Up 0.2%
QQQ traded up $1.36 during trading on Friday, hitting $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. Invesco QQQ has a one year low of $402.39 and a one year high of $567.70. The firm's 50-day moving average price is $539.14 and its 200 day moving average price is $508.84.
Invesco QQQ Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.
About Invesco QQQ
(
Free Report)
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.
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