Eastern Bank Purchases New Stake in Invesco QQQ (NASDAQ:QQQ)

Eastern Bank purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,587 shares of the exchange traded fund’s stock, valued at approximately $6,631,000.

A number of other institutional investors have also recently modified their holdings of QQQ. Riverview Trust Co purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $48,000. Sound Income Strategies LLC raised its holdings in Invesco QQQ by 230.0% during the first quarter. Sound Income Strategies LLC now owns 4,749 shares of the exchange traded fund’s stock worth $2,109,000 after purchasing an additional 3,310 shares during the last quarter. RMR Wealth Builders raised its holdings in Invesco QQQ by 0.4% during the first quarter. RMR Wealth Builders now owns 11,214 shares of the exchange traded fund’s stock worth $4,979,000 after purchasing an additional 50 shares during the last quarter. Brookstone Capital Management raised its holdings in Invesco QQQ by 2.1% during the first quarter. Brookstone Capital Management now owns 339,717 shares of the exchange traded fund’s stock worth $150,838,000 after purchasing an additional 6,881 shares during the last quarter. Finally, Whitcomb & Hess Inc. acquired a new position in Invesco QQQ during the first quarter worth $355,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.1 %

Shares of QQQ stock opened at $495.96 on Wednesday. The stock has a fifty day moving average price of $479.23 and a 200 day moving average price of $465.96. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.