Northeast Investment Management Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Northeast Investment Management grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,456 shares of the exchange traded fund’s stock after acquiring an additional 258 shares during the period. Northeast Investment Management’s holdings in Invesco QQQ were worth $1,656,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ in the 1st quarter worth $29,000. Legacy Bridge LLC lifted its position in shares of Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $35,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded down $5.41 during midday trading on Wednesday, hitting $471.35. 35,574,684 shares of the company traded hands, compared to its average volume of 40,524,254. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The stock has a 50-day moving average price of $474.72 and a 200 day moving average price of $454.35.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a $0.7615 dividend. The ex-dividend date was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.65%.

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.