Fortis Capital Advisors LLC Sells 1,320 Shares of Invesco QQQ $QQQ

Key Points

• Fortis Capital Advisors LLC reduced its position in Invesco QQQ by 2.1%, selling 1,320 shares, leaving them with 60,179 shares valued at approximately $28.2 million.
• Goldman Sachs Group Inc. significantly increased its stake in Invesco QQQ by 959.6%, acquiring over 21.8 million additional shares valued at about $11.3 billion during the first quarter.
• Invesco QQQ shares opened at $580.51 and have a 12-month range between $402.39 and $583.32, with a recent quarterly dividend yield of 0.4%.

Fortis Capital Advisors LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,179 shares of the exchange traded fund's stock after selling 1,320 shares during the quarter. Invesco QQQ accounts for 5.7% of Fortis Capital Advisors LLC's portfolio, making the stock its 4th biggest holding. Fortis Capital Advisors LLC's holdings in Invesco QQQ were worth $28,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Goldman Sachs Group Inc. lifted its stake in Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. NWI Management LP raised its position 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 period. Finally, Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $474,600,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $580.51 on Wednesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32. The firm has a fifty day moving average of $566.46 and a 200-day moving average of $519.13.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date of this dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.