Bollard Group LLC has raised its investment in Invesco QQQ (NASDAQ:QQQ) by 5.9% during the second quarter, as detailed in its latest Form 13F filing with the Securities and Exchange Commission. The firm now holds 18,531 shares of the exchange-traded fund after acquiring an additional 1,035 shares in the quarter. This brings the total value of Bollard Group’s stake in Invesco QQQ to approximately $10.22 million.
Several other investment firms have also adjusted their positions in Invesco QQQ. Notably, Kingstone Capital Partners Texas LLC significantly increased its stake by an astounding 704,593.7%, now owning a staggering 67,615,365 shares valued at around $37.3 billion after purchasing an additional 67,605,770 shares. JPMorgan Chase & Co. expanded its holdings by 42.4%, bringing its total to 4,895,265 shares worth $2.7 billion after acquiring an extra 1,457,109 shares.
Northwestern Mutual Wealth Management Co. increased its investment in Invesco QQQ by 0.7%, now holding 3,223,327 shares valued at approximately $1.78 billion. Symphony Financial Ltd. Co. also entered a new position in the fund valued at $1.24 billion. Additionally, Rockefeller Capital Management L.P. raised its stake by 6.3%, now owning 1,101,906 shares worth about $611 million. Overall, institutional investors own 44.58% of Invesco QQQ’s stock.
Invesco QQQ Performance and Dividend Announcement
As of October 31, 2023, Invesco QQQ opened at $625.48. The fund has fluctuated significantly over the past year, with a 12-month low of $402.39 and a 12-month high of $637.01. The fund has a fifty-day simple moving average of $611.54 and a two-hundred-day simple moving average of $576.73.
In addition to the increase in holdings, Invesco QQQ announced a quarterly dividend of $0.694, which was paid on October 31, 2023. Investors of record as of September 22, 2023 received this dividend, marking an increase from the previous rate of $0.59. This translates to an annualized dividend of $2.78 and a yield of 0.4%.
Understanding Invesco QQQ
Invesco QQQ Trust, Series 1, is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. Its investment objective is to provide results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust allows investors to purchase units representing proportionate undivided interests in a portfolio of securities that closely matches the component securities of the Nasdaq-100 Index.
For those interested in tracking further institutional holdings in Invesco QQQ, resources such as HoldingsChannel.com provide up-to-date information on the latest 13F filings and insider trades related to this fund.
