Harvard Management Co. Inc. Has $130.72 Million Position in Invesco QQQ (NASDAQ:QQQ)

Harvard Management Co. Inc. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 61.0% during the third quarter, HoldingsChannel reports. The firm owned 267,820 shares of the exchange traded fund’s stock after selling 418,180 shares during the period. Invesco QQQ comprises 7.5% of Harvard Management Co. Inc.’s portfolio, making the stock its 5th biggest holding. Harvard Management Co. Inc.’s holdings in Invesco QQQ were worth $130,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Westwood Holdings Group Inc. grew its position in Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. Socha Financial Group LLC boosted its stake in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares during the last quarter. Archer Investment Corp grew its holdings in shares of Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares during the period. Bank Hapoalim BM increased its position in Invesco QQQ by 5.5% during the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Finally, Marco Investment Management LLC lifted its holdings in Invesco QQQ by 48.1% in the third quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after acquiring an additional 3,123 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $509.74 on Friday. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58. The business has a 50-day simple moving average of $496.13 and a two-hundred day simple moving average of $478.96.

Invesco QQQ Cuts Dividend

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

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.