WealthShield Partners LLC Buys 2,943 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• WealthShield Partners LLC increased its holdings in Invesco QQQ by 286.0% during the first quarter, reaching a total of 3,972 shares valued at $1,863,000.
• Other institutional investors also made significant increases in their positions, with Goldman Sachs Group Inc. raising its stake by 959.6%, acquiring over 24 million shares valued at approximately $11.3 billion.
• The latest quarterly dividend was announced at $0.5911 per share, representing an annualized yield of 0.4%.

WealthShield Partners LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 286.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,972 shares of the exchange traded fund's stock after purchasing an additional 2,943 shares during the period. WealthShield Partners LLC's holdings in Invesco QQQ were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $1,018,000. Tandem Investment Partners LLC acquired a new stake in Invesco QQQ in the 4th quarter worth $4,623,000. Sentinus LLC grew its position in Invesco QQQ by 17.6% in the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock worth $3,307,000 after purchasing an additional 970 shares during the last quarter. Phoenix Financial Ltd. increased its holdings in shares of Invesco QQQ by 55.4% during the 4th quarter. Phoenix Financial Ltd. now owns 100,760 shares of the exchange traded fund's stock worth $51,894,000 after purchasing an additional 35,912 shares during the period. Finally, Sendero Wealth Management LLC acquired a new position in shares of Invesco QQQ during the first quarter valued at about $273,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ QQQ traded up $1.92 during mid-day trading on Thursday, hitting $569.24. The company had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The business's 50-day simple moving average is $546.86 and its 200-day simple moving average is $511.70.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend 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.