American Trust Cuts Holdings in Invesco QQQ $QQQ

Key Points

• American Trust has dramatically reduced its holdings in Invesco QQQ by 98.7%, owning only 597 shares after selling 44,601 shares during the 1st quarter.
• Other institutional investors have increased their stakes, with Goldman Sachs increasing its ownership by 959.6% and acquiring an additional 21.8 million shares during the same period.
• Invesco QQQ's stocks were trading at $578.87 and reported a dividend yield of 0.4% following a recent quarterly dividend declaration.

American Trust reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 98.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 597 shares of the exchange traded fund's stock after selling 44,601 shares during the quarter. American Trust's holdings in Invesco QQQ were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Goldman Sachs Group Inc. grew its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at about $2,775,904,000. NWI Management LP grew its position in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC increased its stake in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Finally, Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the 1st quarter valued at about $474,600,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.5%

QQQ stock opened at $578.87 on Tuesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The business's 50-day moving average is $565.79 and its 200 day moving average is $518.70.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was 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.

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