Benjamin Edwards Inc. Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Benjamin Edwards Inc. has increased its stake in Invesco QQQ by 2.2%, now owning 51,173 shares worth approximately $24 million.
• Notable transactions include Goldman Sachs increasing its holdings by over 959%, and GAMMA Investing LLC boosting its stake by an astonishing 55,795.2% during the first quarter.
• The recent quarterly dividend was $0.5911, yielding 0.4%, reflecting the ongoing commitment to return capital to shareholders.

Benjamin Edwards Inc. grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,173 shares of the exchange traded fund's stock after acquiring an additional 1,097 shares during the period. Benjamin Edwards Inc.'s holdings in Invesco QQQ were worth $23,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of QQQ. Koa Wealth Management LLC boosted its holdings in Invesco QQQ by 25.3% in the 1st quarter. Koa Wealth Management LLC now owns 1,129 shares of the exchange traded fund's stock worth $529,000 after buying an additional 228 shares during the period. Darrow Company Inc. boosted its holdings in Invesco QQQ by 10.3% in the 1st quarter. Darrow Company Inc. now owns 43,328 shares of the exchange traded fund's stock worth $20,318,000 after buying an additional 4,055 shares during the period. Ciovacco Capital Management LLC boosted its holdings in Invesco QQQ by 2.8% in the 1st quarter. Ciovacco Capital Management LLC now owns 12,999 shares of the exchange traded fund's stock worth $6,096,000 after buying an additional 353 shares during the period. Koss Olinger Consulting LLC bought a new position in Invesco QQQ in the 1st quarter worth $2,714,000. Finally, ESL Trust Services LLC boosted its holdings in Invesco QQQ by 100.0% in the 1st quarter. ESL Trust Services LLC now owns 400 shares of the exchange traded fund's stock worth $188,000 after buying an additional 200 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.9%

Invesco QQQ stock traded up $5.31 during mid-day trading on Friday, hitting $574.55. The stock had a trading volume of 35,191,297 shares, compared to its average volume of 44,779,680. The firm's 50 day moving average is $549.00 and its 200 day moving average is $512.23. Invesco QQQ has a one year low of $402.39 and a one year high of $574.77.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued 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 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.