Brandywine Trust Co. Invests $323,000 in Invesco QQQ $QQQ

Key Points

• Brandywine Trust Co. invested $323,000 to acquire 688 shares of Invesco QQQ, marking it as the fund's 26th largest position.
• Goldman Sachs increased its stake in Invesco QQQ by 959.6%, now holding over $11.3 billion worth of shares, illustrating significant institutional interest.
• Invesco QQQ's recent quarterly dividend was declared at $0.5911 per share, representing an annualized yield of about 0.4% based on the latest payout.

Brandywine Trust Co. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 688 shares of the exchange traded fund's stock, valued at approximately $323,000. Invesco QQQ comprises approximately 0.1% of Brandywine Trust Co.'s holdings, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ in the first quarter worth approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Invesco QQQ by 55,795.2% in 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 during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ traded up $0.83 during mid-day trading on Friday, reaching $576.06. The stock had a trading volume of 68,270,403 shares, compared to its average volume of 44,029,224. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The business has a fifty day moving average of $565.25 and a 200 day moving average of $518.46.

Invesco QQQ Cuts Dividend

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