CHURCHILL MANAGEMENT Corp Sells 49,601 Shares of Invesco QQQ $QQQ

Key Points

• CHURCHILL MANAGEMENT Corp reduced its stake in Invesco QQQ by 3.7%, selling 49,601 shares, and now holds approximately 1,307,145 shares, making it the fund's second largest position.
• Invesco QQQ announced a quarterly dividend increase to $0.694, up from the previous $0.59, reflecting the company’s commitment to enhancing shareholder returns.
• As of the latest filing, institutional investors own 44.58% of Invesco QQQ’s stock, indicating substantial institutional confidence in the ETF.

CHURCHILL MANAGEMENT Corp reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307,145 shares of the exchange traded fund's stock after selling 49,601 shares during the period. Invesco QQQ comprises approximately 7.8% of CHURCHILL MANAGEMENT Corp's holdings, making the stock its 2nd biggest position. CHURCHILL MANAGEMENT Corp owned 0.21% of Invesco QQQ worth $721,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Brighton Jones LLC raised its stake in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares in the last quarter. Apella Capital LLC increased its holdings in shares of Invesco QQQ by 7.1% in the 1st quarter. Apella Capital LLC now owns 4,074 shares of the exchange traded fund's stock valued at $1,898,000 after acquiring an additional 269 shares during the last quarter. Sendero Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $273,000. Finally, Portside Wealth Group LLC raised its position in shares of Invesco QQQ by 18.9% during the 1st quarter. Portside Wealth Group LLC now owns 1,695 shares of the exchange traded fund's stock valued at $867,000 after acquiring an additional 269 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $605.73 on Friday. The business's fifty day moving average price is $579.12 and its 200 day moving average price is $530.93. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $607.16.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

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.

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