Blue Investment Partners LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Blue Investment Partners LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,006 shares of the exchange traded fund’s stock after acquiring an additional 100 shares during the quarter. Blue Investment Partners LLC’s holdings in Invesco QQQ were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Associated Banc Corp increased its position in shares of Invesco QQQ by 2.6% during the 3rd quarter. Associated Banc Corp now owns 14,420 shares of the exchange traded fund’s stock valued at $7,038,000 after purchasing an additional 359 shares during the last quarter. Truvestments Capital LLC grew its holdings in Invesco QQQ by 506.7% during the third quarter. Truvestments Capital LLC now owns 35,646 shares of the exchange traded fund’s stock valued at $17,398,000 after purchasing an additional 29,771 shares during the period. Alliance Wealth Management Group increased its position in Invesco QQQ by 30.2% in the third quarter. Alliance Wealth Management Group now owns 2,562 shares of the exchange traded fund’s stock worth $1,250,000 after buying an additional 595 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Invesco QQQ by 95.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,145 shares of the exchange traded fund’s stock worth $559,000 after buying an additional 558 shares during the period. Finally, Davis R M Inc. lifted its position in shares of Invesco QQQ by 3.2% during the 3rd quarter. Davis R M Inc. now owns 3,789 shares of the exchange traded fund’s stock valued at $1,849,000 after buying an additional 118 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $506.59 on Tuesday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm has a 50 day moving average of $493.75 and a 200 day moving average of $477.65.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.