Truepoint Inc. Purchases 917 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Truepoint Inc. significantly boosted its position in Invesco QQQ by 210.3% during the first quarter, now holding shares worth $634,000.
• In total, 44.58% of Invesco QQQ is owned by institutional investors, with multiple hedge funds acquiring new stakes recently.
• Invesco QQQ's shares opened at $569.24, with a 52-week range between $402.39 and $574.63.

Truepoint Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 210.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,353 shares of the exchange traded fund's stock after purchasing an additional 917 shares during the quarter. Truepoint Inc.'s holdings in Invesco QQQ were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ during the first quarter valued at $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ in the 1st quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ in the 4th quarter worth $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.9%

Shares of NASDAQ QQQ traded up $5.31 during mid-day trading on Friday, hitting $574.55. 35,191,297 shares of the company's stock traded hands, compared to its average volume of 44,779,680. The company's 50-day moving average is $549.00 and its two-hundred day moving average is $512.37. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.77.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.