MML Investors Services LLC Grows Stock Position in Invesco QQQ (NASDAQ:QQQ)

MML Investors Services LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 900,880 shares of the exchange traded fund’s stock after purchasing an additional 768 shares during the period. Invesco QQQ makes up approximately 1.6% of MML Investors Services LLC’s holdings, making the stock its 5th largest holding. MML Investors Services LLC owned approximately 0.15% of Invesco QQQ worth $439,692,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the 2nd quarter valued at $30,000. CGC Financial Services LLC grew its stake in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the last quarter. Legacy Bridge LLC grew its stake in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the last quarter. PFG Private Wealth Management LLC increased its holdings in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the period. Finally, BNP Paribas bought a new stake in shares of Invesco QQQ in the 3rd quarter valued at about $62,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $526.48 on Friday. The stock’s 50 day simple moving average is $499.59 and its 200 day simple moving average is $481.55. Invesco QQQ has a 1 year low of $386.96 and a 1 year high of $526.72.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, September 23rd.

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.