RiverFront Investment Group LLC Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

RiverFront Investment Group LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 103,749 shares of the exchange traded fund’s stock after buying an additional 8,946 shares during the quarter. Invesco QQQ makes up 1.3% of RiverFront Investment Group LLC’s holdings, making the stock its 25th biggest holding. RiverFront Investment Group LLC’s holdings in Invesco QQQ were worth $42,487,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of QQQ. First Western Trust Bank acquired a new stake in Invesco QQQ during the fourth quarter worth about $201,000. Omnia Family Wealth LLC acquired a new stake in Invesco QQQ during the fourth quarter worth about $5,683,000. Transcend Capital Advisors LLC increased its position in Invesco QQQ by 3.5% during the fourth quarter. Transcend Capital Advisors LLC now owns 36,744 shares of the exchange traded fund’s stock worth $15,048,000 after purchasing an additional 1,240 shares during the last quarter. Opinicus Capital Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth about $3,213,000. Finally, IMA Wealth Inc. increased its position in Invesco QQQ by 4.5% during the fourth quarter. IMA Wealth Inc. now owns 2,027 shares of the exchange traded fund’s stock worth $830,000 after purchasing an additional 87 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $6.55 during midday trading on Friday, hitting $431.00. 41,874,907 shares of the stock were exchanged, compared to its average volume of 47,550,872. Invesco QQQ has a fifty-two week low of $315.05 and a fifty-two week high of $449.34. The stock’s 50-day simple moving average is $436.88 and its 200 day simple moving average is $410.40.

Invesco QQQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be paid a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, March 18th.

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.