Bridgewater Advisors Inc. Makes New $30 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Bridgewater Advisors Inc. bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the third quarter, HoldingsChannel.com reports. The firm bought 59,970 shares of the exchange traded fund’s stock, valued at approximately $29,995,000. Invesco QQQ accounts for approximately 3.1% of Bridgewater Advisors Inc.’s portfolio, making the stock its 10th biggest position.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its stake in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ in the first quarter worth about $304,591,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 2.7 %

Shares of Invesco QQQ stock opened at $505.58 on Thursday. The firm’s 50 day moving average is $483.00 and its 200 day moving average is $470.34. Invesco QQQ has a 1 year low of $369.05 and a 1 year high of $506.41.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

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.