New England Asset Management Inc. Purchases New Shares in Invesco QQQ $QQQ

Key Points

• New England Asset Management Inc. has acquired a new stake in Invesco QQQ, purchasing 6,627 shares valued at approximately $3.1 million during the first quarter.
• Multiple other institutional investors also invested in Invesco QQQ, with hedge funds and institutional investors collectively owning 44.58% of the company's stock.
• Invesco QQQ's quarterly dividend was declared at $0.5911 per share, resulting in an annualized yield of 0.4%.

New England Asset Management Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,627 shares of the exchange traded fund's stock, valued at approximately $3,108,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. increased its holdings in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $67,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $1.64 on Tuesday, hitting $580.51. The company had a trading volume of 43,656,993 shares, compared to its average volume of 45,273,406. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $583.32. The stock has a 50 day moving average price of $565.79 and a 200 day moving average price of $518.70.

Invesco QQQ Cuts Dividend

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