Newbridge Financial Services Group Inc. Boosts Position in Invesco QQQ $QQQ

Key Points

• Newbridge Financial increased its stake in Invesco QQQ by 12.3% in Q4, buying 2,893 shares to hold 26,423 shares worth $16,232,000, which makes QQQ 2.5% of its portfolio and its 8th largest holding.
• Other institutions also boosted positions—most notably HRT Financial LP, which grew its QQQ holding by 118.3% to 3,145,578 shares (~$1.735 billion), while PNC, Envestnet and others made smaller increases; institutional ownership stands at about 44.58%.
• QQQ opened at $588.50, trading below its 50‑day ($601.34) and 200‑day ($609.38) averages with a 12‑month range of $402.39–$637.01, and pays a quarterly dividend of $0.7328 (annualized $2.93, yield ~0.5%).

Newbridge Financial Services Group Inc. grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,423 shares of the exchange traded fund's stock after buying an additional 2,893 shares during the period. Invesco QQQ makes up 2.5% of Newbridge Financial Services Group Inc.'s investment portfolio, making the stock its 8th largest holding. Newbridge Financial Services Group Inc.'s holdings in Invesco QQQ were worth $16,232,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HRT Financial LP grew its position in Invesco QQQ by 118.3% in the 2nd quarter. HRT Financial LP now owns 3,145,578 shares of the exchange traded fund's stock valued at $1,735,226,000 after purchasing an additional 1,704,600 shares during the period. PNC Financial Services Group Inc. grew its position in Invesco QQQ by 0.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,071,021 shares of the exchange traded fund's stock valued at $1,843,749,000 after purchasing an additional 8,038 shares during the period. Envestnet Asset Management Inc. grew its position in Invesco QQQ by 2.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,986,326 shares of the exchange traded fund's stock valued at $1,792,901,000 after purchasing an additional 64,025 shares during the period. Analyst IMS Investment Management Services Ltd. grew its position in Invesco QQQ by 68.6% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 1,750,079 shares of the exchange traded fund's stock valued at $1,075,091,000 after purchasing an additional 712,026 shares during the period. Finally, US Bancorp DE grew its position in Invesco QQQ by 0.5% in the 3rd quarter. US Bancorp DE now owns 1,378,057 shares of the exchange traded fund's stock valued at $827,346,000 after purchasing an additional 7,378 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $588.50 on Tuesday. The company has a fifty day simple moving average of $601.34 and a 200 day simple moving average of $609.38. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.7328 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.93 annualized dividend and a yield of 0.5%.

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.

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