Invesco QQQ (NASDAQ:QQQ) Shares Purchased by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 548,370 shares of the exchange traded fund's stock after purchasing an additional 86,370 shares during the period. Invesco QQQ comprises approximately 13.1% of Main Management ETF Advisors LLC's portfolio, making the stock its largest position. Main Management ETF Advisors LLC owned 0.09% of Invesco QQQ worth $262,730,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Smith Thornton Advisors LLC acquired a new stake in Invesco QQQ in the 2nd quarter valued at approximately $2,470,000. Savvy Advisors Inc. lifted its position in shares of Invesco QQQ by 25.6% during the 2nd quarter. Savvy Advisors Inc. now owns 9,880 shares of the exchange traded fund's stock worth $4,734,000 after purchasing an additional 2,012 shares during the last quarter. Scientech Research LLC purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth $1,086,000. The Manufacturers Life Insurance Company lifted its position in shares of Invesco QQQ by 28.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,490 shares of the exchange traded fund's stock worth $33,772,000 after purchasing an additional 15,648 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Invesco QQQ by 30.4% during the 2nd quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund's stock worth $8,259,000 after purchasing an additional 4,015 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.8 %

Invesco QQQ stock opened at $489.47 on Friday. The company has a fifty day simple moving average of $467.87 and a 200-day simple moving average of $459.61. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.

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