Coppell Advisory Solutions LLC Invests $6.81 Million in Invesco QQQ $QQQ

Key Points

• Coppell Advisory Solutions LLC invested approximately $6.81 million in Invesco QQQ, acquiring 14,323 shares, which represents about 0.5% of its investment portfolio.
• Several other hedge funds significantly increased their holdings in Invesco QQQ, including Goldman Sachs, which raised its position by 959.6%.
• Invesco QQQ's quarterly dividend was recently declared at $0.5911 per share, with an annualized yield of 0.4%.

Coppell Advisory Solutions LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,323 shares of the exchange traded fund's stock, valued at approximately $6,811,000. Invesco QQQ accounts for about 0.5% of Coppell Advisory Solutions LLC's investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position 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 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 stake in Invesco QQQ in the 1st quarter valued at approximately $2,775,904,000. NWI Management LP raised its position in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC raised its position in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Finally, Spear Holdings RSC Ltd acquired a new stake in Invesco QQQ in the 1st quarter valued at approximately $474,600,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock opened at $576.06 on Monday. The business has a 50 day moving average price of $565.25 and a two-hundred day moving average price of $518.33. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a 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.

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