First American Trust FSB Acquires 4,965 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• First American Trust FSB increased its stake in Invesco QQQ by 139.0% in the first quarter, owning 8,536 shares worth approximately $4 million.
• Goldman Sachs Group Inc. significantly boosted its holdings in the ETF by 959.6%, now owning over 24 million shares valued at $11.3 billion.
• Invesco QQQ shares have shown a 0.9% increase and have a 1-year trading range between $402.39 and $574.77.

First American Trust FSB raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 139.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,536 shares of the exchange traded fund's stock after purchasing an additional 4,965 shares during the quarter. First American Trust FSB's holdings in Invesco QQQ were worth $4,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp raised its position in Invesco QQQ by 114.1% in the 1st quarter. SouthState Corp now owns 14,920 shares of the exchange traded fund's stock worth $6,996,000 after purchasing an additional 7,952 shares during the period. Nuveen LLC purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $10,316,000. Strengthening Families & Communities LLC increased its position in shares of Invesco QQQ by 9.5% during the first quarter. Strengthening Families & Communities LLC now owns 1,297 shares of the exchange traded fund's stock worth $621,000 after acquiring an additional 113 shares during the period. AFT Forsyth & Company Inc. increased its position in shares of Invesco QQQ by 1.8% during the first quarter. AFT Forsyth & Company Inc. now owns 1,740 shares of the exchange traded fund's stock worth $816,000 after acquiring an additional 30 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in shares of Invesco QQQ by 2.8% during the first quarter. Mizuho Markets Americas LLC now owns 6,055 shares of the exchange traded fund's stock worth $2,839,000 after acquiring an additional 165 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $7.20 during trading on Tuesday, reaching $580.05. 42,061,779 shares of the company were exchanged, compared to its average volume of 44,823,570. The business's fifty day simple moving average is $550.00 and its 200-day simple moving average is $512.39. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $580.35.

Invesco QQQ Cuts Dividend

The business also recently announced 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 of this dividend 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.