The Manufacturers Life Insurance Company Buys 168,810 Shares of Invesco QQQ (NASDAQ:QQQ)

The Manufacturers Life Insurance Company lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 441.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,049 shares of the exchange traded fund's stock after purchasing an additional 168,810 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Invesco QQQ were worth $105,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. PayPay Securities Corp raised its position in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ in the 4th quarter worth $36,000. Roxbury Financial LLC acquired a new position in Invesco QQQ during the 4th quarter worth $37,000. Finally, Hoese & Co LLP boosted its holdings in Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after acquiring an additional 20 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $7.15 during trading on Friday, reaching $488.83. The company's stock had a trading volume of 39,120,369 shares, compared to its average volume of 36,440,251. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The firm has a market cap of $306.33 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11. The business's fifty day moving average price is $470.05 and its 200-day moving average price is $499.54.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

About Invesco QQQ

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.