Massachusetts Wealth Management Has $1.92 Million Position in Invesco QQQ (NASDAQ:QQQ)

Massachusetts Wealth Management grew its stake in Invesco QQQ (NASDAQ:QQQ) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,314 shares of the exchange traded fund’s stock after purchasing an additional 65 shares during the period. Invesco QQQ comprises approximately 1.3% of Massachusetts Wealth Management’s investment portfolio, making the stock its 28th largest position. Massachusetts Wealth Management’s holdings in Invesco QQQ were worth $1,915,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QQQ. International Assets Investment Management LLC boosted its position in Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the period. Global Assets Advisory LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $1,580,776,000. CHURCHILL MANAGEMENT Corp boosted its position in Invesco QQQ by 30.7% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock worth $819,814,000 after buying an additional 433,317 shares during the period. Comerica Bank acquired a new stake in Invesco QQQ during the 3rd quarter worth approximately $140,657,000. Finally, Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 47.1% during the 4th quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after purchasing an additional 378,922 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $491.04 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $491.17. The firm has a 50 day moving average price of $458.64 and a two-hundred day moving average price of $438.27.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.62%.

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.