Rakuten Securities Inc. Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Rakuten Securities Inc. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,844 shares of the exchange traded fund’s stock, valued at approximately $2,803,000. Invesco QQQ makes up about 2.2% of Rakuten Securities Inc.’s investment portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. grew its position in Invesco QQQ by 7.4% in the first quarter. Ironwood Wealth Management LLC. now owns 5,505 shares of the exchange traded fund’s stock worth $1,996,000 after acquiring an additional 381 shares in the last quarter. Axiom Financial Strategies LLC grew its position in Invesco QQQ by 11.6% in the first quarter. Axiom Financial Strategies LLC now owns 816 shares of the exchange traded fund’s stock worth $255,000 after acquiring an additional 85 shares in the last quarter. Roundview Capital LLC grew its position in Invesco QQQ by 0.9% in the first quarter. Roundview Capital LLC now owns 53,323 shares of the exchange traded fund’s stock worth $19,332,000 after acquiring an additional 495 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Invesco QQQ by 11.2% in the first quarter. Brown Brothers Harriman & Co. now owns 2,750 shares of the exchange traded fund’s stock worth $997,000 after acquiring an additional 278 shares in the last quarter. Finally, Covestor Ltd grew its position in Invesco QQQ by 309.2% in the first quarter. Covestor Ltd now owns 446 shares of the exchange traded fund’s stock worth $162,000 after acquiring an additional 337 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded down $5.00 during trading hours on Wednesday, hitting $426.10. The company’s stock had a trading volume of 27,818,136 shares, compared to its average volume of 45,200,531. Invesco QQQ has a 12 month low of $309.89 and a 12 month high of $449.34. The stock has a 50 day moving average price of $438.36 and a two-hundred day moving average price of $407.27.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Invesco QQQ Profile

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.