RiverFront Investment Group LLC Increases Stake in Invesco QQQ (NASDAQ:QQQ)

RiverFront Investment Group LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,997 shares of the exchange traded fund’s stock after purchasing an additional 15,393 shares during the quarter. Invesco QQQ comprises approximately 1.7% of RiverFront Investment Group LLC’s holdings, making the stock its 20th biggest holding. RiverFront Investment Group LLC’s holdings in Invesco QQQ were worth $64,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. KBC Group NV acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $488,000. The Manufacturers Life Insurance Company increased its holdings in Invesco QQQ by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 118,579 shares of the exchange traded fund’s stock valued at $48,561,000 after purchasing an additional 5,689 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Invesco QQQ by 22.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 111,639 shares of the exchange traded fund’s stock valued at $45,719,000 after purchasing an additional 20,100 shares in the last quarter. Edge Capital Group LLC raised its position in Invesco QQQ by 1.5% in the fourth quarter. Edge Capital Group LLC now owns 6,661 shares of the exchange traded fund’s stock valued at $2,728,000 after purchasing an additional 97 shares during the period. Finally, 360 Financial Inc. lifted its stake in shares of Invesco QQQ by 6.3% during the fourth quarter. 360 Financial Inc. now owns 26,000 shares of the exchange traded fund’s stock worth $10,647,000 after purchasing an additional 1,534 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.4 %

Shares of NASDAQ 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 business has a 50-day moving average of $468.23 and a 200-day moving average of $460.89.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.