Clarkston Capital Partners LLC Takes Position in Invesco QQQ $QQQ

Key Points

• Clarkston Capital Partners LLC has made a new investment in Invesco QQQ by purchasing 503 shares valued at approximately $236,000, as disclosed in its latest 13F filing with the SEC.
• Multiple hedge funds have increased their stakes in Invesco QQQ, indicating growing institutional interest in this exchange-traded fund.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend of $2.36 and a yield of 0.4%.

Clarkston Capital Partners LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 503 shares of the exchange traded fund's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in 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 valued at $11,300,023,000 after buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ in the 1st quarter worth $2,775,904,000. NWI Management LP lifted its holdings in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 1,868,580 shares during the last quarter. Finally, Spear Holdings RSC Ltd acquired a new position in Invesco QQQ during the first quarter worth $474,600,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.5%

QQQ stock traded up $8.69 during trading on Friday, reaching $571.97. 51,413,030 shares of the stock were exchanged, compared to its average volume of 46,061,000. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32. The stock has a 50 day simple moving average of $557.92 and a 200-day simple moving average of $515.81.

Invesco QQQ Cuts Dividend

The firm also recently announced 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. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.