Ardmore Road Asset Management LP Makes New Investment in Invesco QQQ $QQQ

Key Points

• Ardmore Road Asset Management LP has invested approximately $469,000 in Invesco QQQ, acquiring 1,000 shares in the first quarter, as reported in their recent Form 13F filing.
• Invesco QQQ has seen a 1.2% decline in stock price, opening at $570.40, with a fifty-two week high of $583.32 and low of $402.39.
• The company announced a quarterly dividend of $0.5911 per share, yielding an annualized dividend of $2.36, reflecting 0.4% at the time of payment.

Ardmore Road Asset Management LP acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,000 shares of the exchange traded fund's stock, valued at approximately $469,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in QQQ. Goldman Sachs Group Inc. grew its holdings in shares of Invesco QQQ by 959.6% during 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. NWI Management LP grew its holdings in shares of Invesco QQQ by 121.6% during the 4th 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 last quarter. GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 55,795.2% during 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 purchasing an additional 1,868,580 shares during the last quarter. Finally, Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ during the 1st quarter valued at $474,600,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded down $6.68 on Friday, hitting $570.40. 55,870,652 shares of the company's stock traded hands, compared to its average volume of 44,778,712. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32. The company's fifty day simple moving average is $562.24 and its 200 day simple moving average is $517.17.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.