Agate Pass Investment Management LLC Acquires New Stake in Invesco QQQ $QQQ

Key Points

• Agate Pass Investment Management LLC has acquired a new stake in Invesco QQQ, purchasing 1,150 shares valued at approximately $634,000 during the second quarter.
• Other hedge funds have also increased their positions in Invesco QQQ, with Brighton Jones LLC boosting its stake by 15.0% to own 38,348 shares worth $19,605,000.
• Invesco QQQ announced a quarterly dividend increase, now at $0.694 per share, marking a change from its previous dividend of $0.59.

Agate Pass Investment Management LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,150 shares of the exchange traded fund's stock, valued at approximately $634,000.

A number of other hedge funds have also made changes to their positions in QQQ. Brighton Jones LLC increased its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Wealth Group Ltd. boosted its holdings in Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after buying an additional 4,835 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 19.2% during the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after buying an additional 643 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Invesco QQQ by 2.3% during the first quarter. Fifth Third Bancorp now owns 23,196 shares of the exchange traded fund's stock worth $10,877,000 after buying an additional 518 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $589.55 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18. The company has a 50 day moving average price of $583.89 and a 200 day moving average price of $536.30.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.

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