Massachusetts Wealth Management Takes Position in Invesco QQQ $QQQ

Massachusetts Wealth Management purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,856 shares of the exchange traded fund’s stock, valued at approximately $2,679,000. Invesco QQQ accounts for about 1.5% of Massachusetts Wealth Management’s portfolio, making the stock its 19th biggest holding.

Several other large investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its holdings in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the first quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. increased its holdings in Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.1%

NASDAQ QQQ opened at $610.70 on Friday. The stock has a 50-day simple moving average of $583.17 and a 200 day simple moving average of $535.28. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $611.75.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, September 22nd.

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.