Invesco QQQ $QQQ is Bell Bank's 4th Largest Position

Key Points

• Bell Bank has decreased its stake in Invesco QQQ by 6.3%, owning 357,615 shares after selling 24,057 shares in the second quarter.
• The current value of Bell Bank's investment in Invesco QQQ is approximately $197.3 million, making it the firm’s 4th largest position at around 9.2% of its total holdings.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, translating to an annual yield of 0.4%.

Bell Bank trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,615 shares of the exchange traded fund's stock after selling 24,057 shares during the quarter. Invesco QQQ makes up approximately 9.2% of Bell Bank's portfolio, making the stock its 4th biggest holding. Bell Bank owned approximately 0.06% of Invesco QQQ worth $197,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC increased its position in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Invesco QQQ by 959.6% during the first 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 last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the first quarter valued at approximately $2,775,904,000. GAMMA Investing LLC grew its position in 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 valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the last quarter. Finally, Spear Holdings RSC Ltd bought a new position in Invesco QQQ during the first quarter valued at approximately $474,600,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7%

NASDAQ QQQ traded up $4.03 on Friday, reaching $599.35. 58,129,765 shares of the company's stock traded hands, compared to its average volume of 47,115,312. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $600.05. The stock has a 50-day simple moving average of $572.19 and a 200 day simple moving average of $523.77.

Invesco QQQ Cuts Dividend

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

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.