Spear Holdings RSC Ltd Purchases Shares of 1,012,112 Invesco QQQ (NASDAQ:QQQ)

Spear Holdings RSC Ltd purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,012,112 shares of the exchange traded fund's stock, valued at approximately $474,600,000. Invesco QQQ makes up about 36.5% of Spear Holdings RSC Ltd's holdings, making the stock its biggest position. Spear Holdings RSC Ltd owned approximately 0.16% of Invesco QQQ at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after buying an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after acquiring an additional 27,115 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock valued at $1,239,886,000 after acquiring an additional 52,235 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Invesco QQQ by 34.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.9%

Shares of Invesco QQQ stock traded up $5.08 during trading on Friday, hitting $555.88. 26,443,524 shares of the stock were exchanged, compared to its average volume of 39,231,028. The company has a fifty day moving average price of $517.86 and a 200-day moving average price of $504.61. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.20.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 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.