Wellington Management Group LLP Has $8.28 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Wellington Management Group LLP decreased its position in Invesco QQQ (NASDAQ:QQQ) by 15.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,214 shares of the exchange traded fund’s stock after selling 3,582 shares during the period. Wellington Management Group LLP’s holdings in Invesco QQQ were worth $8,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth about $35,000. Red Tortoise LLC grew its holdings in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at about $41,000. Robinson Capital Management LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $40,000. Finally, Bear Mountain Capital Inc. bought a new position in Invesco QQQ in the fourth quarter valued at approximately $42,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $481.61 on Friday. The stock has a 50 day moving average of $452.40 and a 200-day moving average of $435.37. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $486.86.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, June 24th.

Invesco QQQ 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.