Invesco QQQ (NASDAQ:QQQ) is Gill Capital Partners LLC's 9th Largest Position

Key Points

• Gill Capital Partners LLC increased its stake in Invesco QQQ by 41.7%, making it the 9th largest position in their portfolio, worth around $9.57 million.
• Several hedge funds recently purchased new positions in Invesco QQQ, with 44.58% of the stock currently owned by institutional investors.
• The latest quarterly dividend for Invesco QQQ was $0.5911, reflecting an annualized rate of $2.36 and a yield of 0.4%.

Gill Capital Partners LLC increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 41.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,410 shares of the exchange traded fund's stock after acquiring an additional 6,004 shares during the period. Invesco QQQ comprises approximately 3.3% of Gill Capital Partners LLC's portfolio, making the stock its 9th largest position. Gill Capital Partners LLC's holdings in Invesco QQQ were worth $9,571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new position in Invesco QQQ during the 4th quarter valued at $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $553.88 on Monday. The business has a fifty day simple moving average of $544.01 and a two-hundred day simple moving average of $510.67. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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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