24,095 Shares in Invesco QQQ $QQQ Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC acquired a new stake in Invesco QQQ, purchasing 24,095 shares valued at approximately $13.3 million in the 2nd quarter.
• Other major institutional investors, including Goldman Sachs, have significantly increased their holdings, with Goldman Sachs raising its stake by 959.6% in the 1st quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, representing a 0.4% yield based on an annualized amount of $2.36.

Exchange Traded Concepts LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,095 shares of the exchange traded fund's stock, valued at approximately $13,292,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Capital Management LLC WI bought a new position in shares of Invesco QQQ in the 2nd quarter valued at about $3,550,000. Fulton Bank N.A. boosted its holdings in Invesco QQQ by 11.4% in the 2nd quarter. Fulton Bank N.A. now owns 5,452 shares of the exchange traded fund's stock valued at $3,008,000 after purchasing an additional 557 shares during the period. Vista Investment Partners LLC lifted its holdings in shares of Invesco QQQ by 2.1% during the 2nd quarter. Vista Investment Partners LLC now owns 8,752 shares of the exchange traded fund's stock worth $4,828,000 after acquiring an additional 182 shares during the period. Strathmore Capital Advisors Inc. acquired a new position in Invesco QQQ during the 2nd quarter worth approximately $452,000. Finally, Atticus Wealth Management LLC increased its position in Invesco QQQ by 8.5% in the 2nd quarter. Atticus Wealth Management LLC now owns 9,793 shares of the exchange traded fund's stock valued at $5,402,000 after acquiring an additional 764 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7%

Shares of QQQ traded up $4.03 during trading hours on Friday, reaching $599.35. 58,129,765 shares of the stock traded hands, compared to its average volume of 47,115,312. The stock has a fifty day simple moving average of $572.19 and a 200 day simple moving average of $523.77. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $600.05.

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 dividend on an annualized basis 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.