Forbes J M & Co. LLP Makes New Investment in Invesco QQQ $QQQ

Forbes J M & Co. LLP acquired a new position in Invesco QQQ (NASDAQ:QQQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 374 shares of the exchange traded fund’s stock, valued at approximately $206,000.

Several other hedge funds have also bought and sold shares of QQQ. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $51,000. Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5%

Shares of NASDAQ:QQQ opened at $603.25 on Thursday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $603.79. The business’s 50 day moving average price is $578.30 and its 200-day moving average price is $530.08.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.