Traders purchased shares of Invesco QQQ Trust (NASDAQ:QQQ) on weakness during trading on Wednesday. $499.97 million flowed into the stock on the tick-up and $459.09 million flowed out of the stock on the tick-down, for a money net flow of $40.88 million into the stock. Of all equities tracked, Invesco QQQ Trust had the 21st highest net in-flow for the day. Invesco QQQ Trust traded down ($0.60) for the day and closed at $189.71
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be paid a dividend of $0.3242 per share. This represents a $1.30 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Monday, March 18th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQ. Ellis Investment Partners LLC lifted its stake in Invesco QQQ Trust by 17,883.3% during the first quarter. Ellis Investment Partners LLC now owns 6,329,777 shares of the exchange traded fund’s stock worth $6,329,000 after purchasing an additional 6,294,579 shares during the last quarter. Deutsche Bank AG lifted its stake in Invesco QQQ Trust by 267,182.0% during the fourth quarter. Deutsche Bank AG now owns 5,043,612 shares of the exchange traded fund’s stock worth $778,025,000 after purchasing an additional 5,041,725 shares during the last quarter. Morgan Stanley lifted its stake in Invesco QQQ Trust by 31.9% during the third quarter. Morgan Stanley now owns 18,007,827 shares of the exchange traded fund’s stock worth $3,345,675,000 after purchasing an additional 4,353,877 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Invesco QQQ Trust during the first quarter worth $596,218,000. Finally, Pictet North America Advisors SA lifted its stake in Invesco QQQ Trust by 14,018.3% during the fourth quarter. Pictet North America Advisors SA now owns 3,041,795 shares of the exchange traded fund’s stock worth $469,227,000 after purchasing an additional 3,020,250 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.
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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.
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