Consolidated Investment Group LLC Has $169.35 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Consolidated Investment Group LLC increased its stake in Invesco QQQ by 1.2% in the second quarter, holding 307,000 shares valued at approximately $169.35 million, making it the fund's largest position.
• Several hedge funds notably modified their positions in Invesco QQQ, with Washington Growth Strategies LLC raising its stake by a staggering 3,147.5%.
• Invesco QQQ announced a dividend increase, declaring a quarterly dividend of $0.694 per share, up from its previous $0.59, resulting in an annualized yield of 0.5%.

Consolidated Investment Group LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,000 shares of the exchange traded fund's stock after buying an additional 3,500 shares during the period. Invesco QQQ comprises about 22.7% of Consolidated Investment Group LLC's holdings, making the stock its largest position. Consolidated Investment Group LLC's holdings in Invesco QQQ were worth $169,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Washington Growth Strategies LLC boosted its position in shares of Invesco QQQ by 3,147.5% during the second quarter. Washington Growth Strategies LLC now owns 15,231 shares of the exchange traded fund's stock valued at $8,402,000 after buying an additional 14,762 shares during the last quarter. Fairvoy Private Wealth LLC boosted its position in Invesco QQQ by 1.7% in the second quarter. Fairvoy Private Wealth LLC now owns 8,579 shares of the exchange traded fund's stock worth $4,733,000 after purchasing an additional 144 shares during the last quarter. Jackson Wealth Management LLC boosted its position in Invesco QQQ by 0.9% in the second quarter. Jackson Wealth Management LLC now owns 20,295 shares of the exchange traded fund's stock worth $11,196,000 after purchasing an additional 190 shares during the last quarter. Curran Financial Partners LLC boosted its position in Invesco QQQ by 12.7% in the second quarter. Curran Financial Partners LLC now owns 2,583 shares of the exchange traded fund's stock worth $1,425,000 after purchasing an additional 292 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its position in Invesco QQQ by 0.3% in the second quarter. Stock Yards Bank & Trust Co. now owns 11,947 shares of the exchange traded fund's stock worth $6,590,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $603.18 on Friday. The stock's fifty day simple moving average is $579.85 and its two-hundred day simple moving average is $532.17. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $607.33.

Invesco QQQ Increases Dividend

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

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.

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