Industrial Alliance Investment Management Inc. Purchases 12,019 Shares of Invesco QQQ $QQQ

Industrial Alliance Investment Management Inc. increased its position in Invesco QQQ (NASDAQ:QQQ) by 7.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 171,402 shares of the exchange traded fund’s stock after acquiring an additional 12,019 shares during the quarter. Invesco QQQ accounts for 63.6% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its largest position. Industrial Alliance Investment Management Inc.’s holdings in Invesco QQQ were worth $94,552,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after buying an additional 176 shares during the last quarter. Wealth Group Ltd. grew its position in shares of Invesco QQQ by 305.2% in the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after buying an additional 4,835 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Invesco QQQ by 62.6% in the first quarter. Principal Financial Group Inc. now owns 46,119 shares of the exchange traded fund’s stock valued at $21,626,000 after buying an additional 17,750 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. increased its stake in shares of Invesco QQQ by 32.9% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 24,191 shares of the exchange traded fund’s stock valued at $11,344,000 after buying an additional 5,991 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

Invesco QQQ stock opened at $629.07 on Friday. The stock’s 50 day moving average is $596.70 and its 200 day moving average is $553.82. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were given a $0.694 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.4%.

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.