New England Professional Planning Group Inc. bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 820 shares of the exchange traded fund's stock, valued at approximately $385,000. Invesco QQQ accounts for about 0.2% of New England Professional Planning Group Inc.'s portfolio, making the stock its 24th largest position.
Several other hedge funds also recently added to or reduced their stakes in the business. Fonville Wealth Management LLC acquired a new position in shares of Invesco QQQ during the 1st quarter worth about $257,000. Kesler Norman & Wride LLC boosted its position in shares of Invesco QQQ by 3.8% during the 1st quarter. Kesler Norman & Wride LLC now owns 5,476 shares of the exchange traded fund's stock worth $2,568,000 after purchasing an additional 200 shares during the period. WESPAC Advisors LLC boosted its position in Invesco QQQ by 8.0% in the 1st quarter. WESPAC Advisors LLC now owns 2,055 shares of the exchange traded fund's stock valued at $964,000 after buying an additional 152 shares during the period. Country Club Bank boosted its position in Invesco QQQ by 4.7% in the 1st quarter. Country Club Bank now owns 3,285 shares of the exchange traded fund's stock valued at $1,540,000 after buying an additional 146 shares during the period. Finally, Seamount Financial Group Inc. raised its holdings in shares of Invesco QQQ by 10.9% in the 1st quarter. Seamount Financial Group Inc. now owns 6,599 shares of the exchange traded fund's stock valued at $3,094,000 after purchasing an additional 648 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Price Performance
Shares of QQQ traded down $1.25 during midday trading on Friday, reaching $554.20. The stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,410,558. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.63. The company's fifty day simple moving average is $525.75 and its two-hundred day simple moving average is $505.74.
Invesco QQQ Cuts Dividend
The company also recently disclosed 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. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.
Invesco QQQ Company Profile
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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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