NRI Wealth Management LC Has $26.69 Million Position in Invesco QQQ (NASDAQ:QQQ)

NRI Wealth Management LC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,927 shares of the exchange traded fund's stock after purchasing an additional 732 shares during the period. Invesco QQQ comprises 19.7% of NRI Wealth Management LC's holdings, making the stock its 2nd biggest holding. NRI Wealth Management LC's holdings in Invesco QQQ were worth $26,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QQQ. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter worth about $36,000. Banque Transatlantique SA acquired a new stake in Invesco QQQ during the 4th quarter worth about $57,000. Perritt Capital Management Inc purchased a new stake in Invesco QQQ during the fourth quarter valued at about $61,000. Finally, Frazier Financial Advisors LLC lifted its stake in Invesco QQQ by 1,288.9% during the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after buying an additional 116 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $541.16 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $543.31. The firm's 50 day simple moving average is $505.63 and its 200-day simple moving average is $503.71.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.