Northern Trust Corp Grows Holdings in Invesco QQQ $QQQ

Key Points

• Northern Trust Corp increased its position in Invesco QQQ by 3.4% during the first quarter, purchasing an additional 9,116 shares, bringing its total to 276,397 shares valued at approximately $129.6 million.
• Several institutional investors have also adjusted their holdings in Invesco QQQ, indicating increased interest, with hedge funds and other institutional investors owning 44.58% of the stock.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, equating to an annualized dividend of $2.36 with a yield of 0.4%.

Northern Trust Corp boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,397 shares of the exchange traded fund's stock after purchasing an additional 9,116 shares during the period. Northern Trust Corp's holdings in Invesco QQQ were worth $129,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in QQQ. Eagle Capital Management LLC raised its stake in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC raised 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 acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after acquiring an additional 176 shares during the period. First Trust Advisors LP purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $610,000. Finally, Burling Wealth Partners LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $258,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $8.69 during mid-day trading on Friday, reaching $571.97. The company's stock had a trading volume of 51,413,030 shares, compared to its average volume of 46,061,000. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The company's 50 day simple moving average is $557.92 and its 200-day simple moving average is $515.81.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.