NewEdge Advisors LLC Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

NewEdge Advisors LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 215,872 shares of the exchange traded fund’s stock after acquiring an additional 6,924 shares during the quarter. Invesco QQQ accounts for 0.7% of NewEdge Advisors LLC’s holdings, making the stock its 16th largest holding. NewEdge Advisors LLC’s holdings in Invesco QQQ were worth $103,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Deane Retirement Strategies Inc. purchased a new position in Invesco QQQ during the first quarter worth approximately $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth $30,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the 4th quarter valued at $35,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.6 %

NASDAQ QQQ opened at $486.75 on Friday. The business’s fifty day simple moving average is $468.10 and its 200-day simple moving average is $460.07. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced 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. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

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.