Invesco QQQ (NASDAQ:QQQ) is Goldman Sachs Group Inc.'s 5th Largest Position

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Invesco QQQ by 959.6% during the first quarter, now holding over 24 million shares, which makes it the fund's 5th largest holding.
• Several other institutional investors, including MGB Wealth Management and Wealthspire Advisors, also raised their positions in Invesco QQQ, contributing to a total of 44.58% of the stock being owned by hedge funds and institutional investors.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, yielding about 0.4%, indicating the company's ongoing commitment to returning value to shareholders despite fluctuations in share price.

Goldman Sachs Group Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 959.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,097,975 shares of the exchange traded fund's stock after purchasing an additional 21,823,765 shares during the period. Invesco QQQ accounts for about 1.8% of Goldman Sachs Group Inc.'s investment portfolio, making the stock its 5th biggest holding. Goldman Sachs Group Inc. owned approximately 3.85% of Invesco QQQ worth $11,300,023,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Eagle Capital Management LLC increased its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Invesco QQQ by 25.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock valued at $1,467,000 after purchasing an additional 573 shares in the last quarter. Finally, FMR LLC increased its stake in Invesco QQQ by 1.4% during the fourth quarter. FMR LLC now owns 788,926 shares of the exchange traded fund's stock worth $403,323,000 after acquiring an additional 10,861 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

NASDAQ QQQ traded up $1.92 on Thursday, hitting $569.24. 44,049,632 shares of the stock were exchanged, compared to its average volume of 44,292,076. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63. The stock has a fifty day moving average price of $546.86 and a two-hundred day moving average price of $511.70.

Invesco QQQ Cuts Dividend

The company also recently declared 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%.

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.