CX Institutional Lowers Stock Position in Invesco QQQ $QQQ

Key Points

• CX Institutional reduced its stake in Invesco QQQ by 39.7% in the second quarter, owning 2,088 shares valued at approximately $1.15 million after selling 1,372 shares.
• Kingstone Capital Partners Texas LLC dramatically increased its holdings in Invesco QQQ by 704,593.7%, now owning over 67 million shares valued at about $37.3 billion.
• As of now, institutional investors control 44.58% of the stock of Invesco QQQ, indicating significant market interest and investment in this ETF.

CX Institutional decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 39.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,088 shares of the exchange traded fund's stock after selling 1,372 shares during the period. CX Institutional's holdings in Invesco QQQ were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at about $1,018,000. Sendero Wealth Management LLC acquired a new stake in Invesco QQQ in the 1st quarter valued at approximately $273,000. GSG Advisors LLC raised its holdings in shares of Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after buying an additional 585 shares during the period. Amundi boosted its stake in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after purchasing an additional 6,600 shares during the period. Finally, Orser Capital Management LLC purchased a new stake in Invesco QQQ during the 1st quarter worth about $566,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $2.85 during trading on Monday, hitting $602.20. 57,065,386 shares of the stock were exchanged, compared to its average volume of 47,450,008. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87. The firm's 50-day moving average price is $572.19 and its 200 day moving average price is $524.01.

Invesco QQQ Increases Dividend

The company also recently announced 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. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.