Connective Capital Management LLC Acquires Shares of 57,868 Invesco QQQ $QQQ

Key Points

• Connective Capital Management LLC has acquired 57,868 shares of Invesco QQQ, valued at approximately $27.1 million, making it the firm's largest holding.
• Other hedge funds have increased their stakes significantly in Invesco QQQ, with Goldman Sachs Group Inc. boosting its position by 959.6%, now owning over $11.3 billion worth of shares.
• The most recent dividend paid by Invesco QQQ was $0.5911, resulting in an annualized yield of 0.4%.

Connective Capital Management LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,868 shares of the exchange traded fund's stock, valued at approximately $27,135,000. Invesco QQQ makes up 25.0% of Connective Capital Management LLC's investment portfolio, making the stock its largest holding.

A number of other hedge funds also recently made changes to their positions in QQQ. Goldman Sachs Group Inc. increased its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $2,775,904,000. Ameriprise Financial Inc. grew its holdings in shares of Invesco QQQ by 20.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock valued at $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in 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 last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.5%

QQQ stock opened at $571.97 on Monday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32. The company has a fifty day simple moving average of $557.92 and a two-hundred day simple moving average of $515.64.

Invesco QQQ Cuts Dividend

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

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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