Invesco QQQ (NASDAQ:QQQ) Shares Bought by NovaPoint Capital LLC

NovaPoint Capital LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,120 shares of the exchange traded fund’s stock after buying an additional 26 shares during the quarter. NovaPoint Capital LLC’s holdings in Invesco QQQ were worth $2,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Wilkins Miller Wealth Management LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth $1,018,000. Synergy Investment Management LLC acquired a new position in Invesco QQQ during the fourth quarter worth about $723,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $4,623,000. Finally, Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock worth $150,046,000 after acquiring an additional 213,400 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $546.99 on Wednesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $552.80. The stock’s 50 day simple moving average is $514.18 and its 200 day simple moving average is $504.17.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%.

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.