Invesco QQQ (NASDAQ:QQQ) is Objective Capital Management LLC's 2nd Largest Position

Key Points

• Objective Capital Management LLC reduced its holdings in Invesco QQQ by 5.8%, making it the firm's second-largest position at 5.5% of their investment portfolio.
• Several hedge funds significantly increased their positions in Invesco QQQ, with NWI Management LP growing its stake by 121.6% and GAMMA Investing LLC by an astonishing 55,795.2% in the last quarter.
• Invesco QQQ announced a quarterly dividend of $0.5911, representing an annualized dividend of $2.36 and a yield of 0.42% for investors of record by June 23rd.

Objective Capital Management LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,147 shares of the exchange traded fund's stock after selling 561 shares during the period. Invesco QQQ makes up 5.5% of Objective Capital Management LLC's investment portfolio, making the stock its 2nd biggest holding. Objective Capital Management LLC's holdings in Invesco QQQ were worth $4,289,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QQQ. NWI Management LP grew 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 purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $679,936,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter worth $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its position in Invesco QQQ by 100,517.9% in the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after acquiring an additional 931,801 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.2%

Shares of NASDAQ:QQQ opened at $566.37 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $567.70. The firm has a fifty day moving average of $539.14 and a 200 day moving average of $508.84.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.

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