Russell Investments Group Ltd. Raises Holdings in Invesco QQQ $QQQ

Key Points

• Russell Investments Group Ltd. increased its holdings in Invesco QQQ by 42.7%, acquiring an additional 1,224 shares in the first quarter, bringing its total to 4,093 shares valued at approximately $1.92 million.
• Invesco QQQ's stock has fluctuated, opening at $572.61, with a one-year low of $402.39 and a high of $583.32.
• The company declared a quarterly dividend of $0.5911 per share, translating to an annualized dividend of $2.36, with a yield of 0.4%.

Russell Investments Group Ltd. lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 42.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,093 shares of the exchange traded fund's stock after acquiring an additional 1,224 shares during the quarter. Russell Investments Group Ltd.'s holdings in Invesco QQQ were worth $1,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the fourth quarter valued at about $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ in the first quarter valued at about $51,000. Banque Transatlantique SA purchased a new position in Invesco QQQ in the fourth quarter valued at about $57,000. Finally, Blume Capital Management Inc. grew its stake in 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. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded up $3.59 on Thursday, hitting $577.08. The company had a trading volume of 46,700,719 shares, compared to its average volume of 44,876,570. The stock has a fifty day moving average price of $560.41 and a 200-day moving average price of $516.76. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a 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.