Corsair Capital Management L.P. Increases Stock Position in Invesco QQQ $QQQ

Key Points

• Corsair Capital Management L.P. increased its stake in Invesco QQQ by 4.1%, owning 25,685 shares worth approximately $12,044,000, making it the firm's 11th largest holding.
• Other institutional investors, including Goldman Sachs Group Inc., made significant changes to their positions in Invesco QQQ, with Goldman Sachs increasing its holdings by 959.6%, acquiring over 21 million additional shares.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, representing an annualized yield of 0.4%, as the stock aims to mirror the performance of the Nasdaq-100 Index.

Corsair Capital Management L.P. grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,685 shares of the exchange traded fund's stock after buying an additional 1,000 shares during the period. Invesco QQQ accounts for approximately 3.1% of Corsair Capital Management L.P.'s holdings, making the stock its 11th biggest holding. Corsair Capital Management L.P.'s holdings in Invesco QQQ were worth $12,044,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% during 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 acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. NWI Management LP lifted its holdings in shares of Invesco QQQ by 121.6% during the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock valued at $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 55,795.2% during 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 acquiring an additional 1,868,580 shares in the last quarter. Finally, Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $474,600,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $577.08 on Friday. The firm's fifty day simple moving average is $561.37 and its 200 day simple moving average is $517.09. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

Invesco QQQ Company 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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