United Capital Management of KS Inc. Has $3.25 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• United Capital Management of KS Inc. reduced its holdings in Invesco QQQ by 6.3%, owning 6,932 shares worth $3,251,000 after selling 466 shares during the first quarter.
• Goldman Sachs Group Inc. significantly increased its stake in Invesco QQQ by 959.6%, acquiring over 21 million additional shares valued at approximately $11.3 billion.
• The latest quarterly dividend for Invesco QQQ was declared at $0.5911 per share, resulting in an annualized yield of 0.4%.

United Capital Management of KS Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,932 shares of the exchange traded fund's stock after selling 466 shares during the quarter. United Capital Management of KS Inc.'s holdings in Invesco QQQ were worth $3,251,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Invesco QQQ by 959.6% in the 1st 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. acquired a new position in Invesco QQQ in the 1st quarter worth approximately $2,775,904,000. NWI Management LP boosted its stake in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC boosted its stake in 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 worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Finally, Senator Investment Group LP acquired a new position in Invesco QQQ in the 4th quarter worth approximately $679,936,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.4%

Invesco QQQ stock traded down $2.55 during midday trading on Friday, reaching $577.34. The stock had a trading volume of 49,393,990 shares, compared to its average volume of 44,038,980. The firm's fifty day simple moving average is $554.13 and its two-hundred day simple moving average is $514.12. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

Invesco QQQ Company 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.