Nvest Financial LLC Purchases 701 Shares of Invesco QQQ (NASDAQ:QQQ)

Nvest Financial LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,399 shares of the exchange traded fund’s stock after acquiring an additional 701 shares during the period. Invesco QQQ accounts for approximately 1.6% of Nvest Financial LLC’s holdings, making the stock its 19th biggest holding. Nvest Financial LLC’s holdings in Invesco QQQ were worth $2,397,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ in the 4th quarter worth about $35,000. Red Tortoise LLC raised its position in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares during the last quarter. Robinson Capital Management LLC purchased a new position in Invesco QQQ in the 4th quarter worth about $40,000. Finally, Friedenthal Financial purchased a new position in Invesco QQQ in the 4th quarter worth about $41,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $486.98 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20. The business has a 50-day simple moving average of $456.11 and a two-hundred day simple moving average of $437.32.

Invesco QQQ Increases Dividend

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

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.