Invesco QQQ (NASDAQ:QQQ) is Newbridge Financial Services Group Inc.’s 9th Largest Position

Newbridge Financial Services Group Inc. grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 47.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,966 shares of the exchange traded fund’s stock after acquiring an additional 3,196 shares during the period. Invesco QQQ comprises about 1.8% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 9th largest holding. Newbridge Financial Services Group Inc.’s holdings in Invesco QQQ were worth $4,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after acquiring an additional 338,494 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC increased its position in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after buying an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.4 %

QQQ opened at $481.27 on Wednesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock has a 50-day moving average price of $468.23 and a 200-day moving average price of $460.89.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.56%.

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.