Metropolitan Life Insurance Co NY Takes Position in Invesco QQQ (NASDAQ:QQQ)

Metropolitan Life Insurance Co NY acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,200 shares of the exchange traded fund’s stock, valued at approximately $6,931,000. Invesco QQQ accounts for about 2.5% of Metropolitan Life Insurance Co NY’s holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter worth $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the 1st quarter worth $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC raised its position in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $509.31 on Wednesday. The business has a fifty day simple moving average of $494.46 and a 200 day simple moving average of $478.12. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. 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.