Wealth Group Ltd. Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Wealth Group Ltd. increased its position in Invesco QQQ by 305.2% in the first quarter, now holding 6,419 shares valued at approximately $3,010,000.
• Other institutional investors have also recently acquired stakes in Invesco QQQ, with new positions totaling values from $35,000 to $67,000 in the fourth quarter.
• Invesco QQQ's recent quarterly dividend declaration will provide shareholders with $0.5911 per share, reflecting an annual yield of 0.42%.

Wealth Group Ltd. boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 305.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,419 shares of the exchange traded fund's stock after purchasing an additional 4,835 shares during the period. Invesco QQQ comprises 2.0% of Wealth Group Ltd.'s investment portfolio, making the stock its 13th biggest position. Wealth Group Ltd.'s holdings in Invesco QQQ were worth $3,010,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QQQ. NWI Management LP increased its stake in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after acquiring an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC boosted its stake in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Senator Investment Group LP bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Ameriprise Financial Inc. boosted its holdings in shares of Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after acquiring an additional 756,990 shares during the last quarter. Finally, Susquehanna Advisors Group Inc. bought a new position in Invesco QQQ in the fourth quarter valued at about $344,530,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $1.69 on Thursday, reaching $569.71. 15,283,897 shares of the stock were exchanged, compared to its average volume of 44,444,480. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63. The company's 50-day simple moving average is $542.10 and its two-hundred day simple moving average is $509.98.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.