EFG Asset Management Americas Corp. Buys New Position in Invesco QQQ (NASDAQ:QQQ)

EFG Asset Management Americas Corp. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,945 shares of the exchange traded fund’s stock, valued at approximately $3,726,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund’s stock worth $1,124,614,000 after purchasing an additional 568,120 shares in the last quarter. GAMMA Investing LLC raised its holdings in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. TD Asset Management Inc raised its holdings in Invesco QQQ by 18.1% in the first quarter. TD Asset Management Inc now owns 1,378,074 shares of the exchange traded fund’s stock worth $646,206,000 after purchasing an additional 210,894 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Invesco QQQ by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund’s stock worth $629,680,000 after purchasing an additional 14,017 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.1%

QQQ opened at $568.02 on Thursday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $572.11. The stock has a fifty day simple moving average of $542.10 and a two-hundred day simple moving average of $509.98.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.