Transamerica Financial Advisors Inc. Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Transamerica Financial Advisors Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,512 shares of the exchange traded fund’s stock, valued at approximately $28,558,000. Invesco QQQ accounts for 2.8% of Transamerica Financial Advisors Inc.’s portfolio, making the stock its 3rd biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. PBCay One RSC Ltd boosted its stake in shares of Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after buying an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after purchasing an additional 142 shares during the last quarter. Vanguard Group Inc. lifted its stake in Invesco QQQ by 5.0% during the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after purchasing an additional 832 shares during the last quarter. Janus Henderson Group PLC bought a new position in Invesco QQQ during the first quarter worth $210,000. Finally, Redwood Investment Management LLC bought a new position in Invesco QQQ during the first quarter worth $252,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $2.09 during trading hours on Tuesday, hitting $508.68. 5,137,331 shares of the stock were exchanged, compared to its average volume of 37,824,988. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58. The stock has a 50-day simple moving average of $493.75 and a 200-day simple moving average of $477.65.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, September 23rd.

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.