Betterment LLC Has $39.36 Million Position in Invesco QQQ $QQQ

Key Points

• Betterment LLC increased its ownership in Invesco QQQ by 17.5% in Q1, now holding 83,943 shares valued at approximately $39.36 million.
• Other hedge funds, including Atlantic Private Wealth LLC, significantly expanded their positions in Invesco QQQ during the same period, reflecting strong institutional interest.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Betterment LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,943 shares of the exchange traded fund's stock after buying an additional 12,484 shares during the quarter. Betterment LLC's holdings in Invesco QQQ were worth $39,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at about $51,000. Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter valued at about $57,000. Blume Capital Management Inc. raised its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC boosted its stake in Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ traded down $4.78 during trading hours on Tuesday, hitting $565.62. 65,506,663 shares of the company's stock were exchanged, compared to its average volume of 42,395,224. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $583.32. The stock's 50-day moving average is $563.01 and its two-hundred day moving average is $517.40.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a 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.