Invesco QQQ $QQQ Holdings Lessened by Elm3 Financial Group LLC

Key Points

• Elm3 Financial Group LLC has reduced its holdings in Invesco QQQ by 6.9%, now owning 7,531 shares valued at approximately $4.15 million.
• Kingstone Capital Partners Texas LLC significantly increased its holdings in Invesco QQQ by an astonishing 704,593.7%, acquiring over 67 million shares worth around $37.3 billion.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, raising the annualized dividend yield to 0.5%, effective at the end of October.

Elm3 Financial Group LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,531 shares of the exchange traded fund's stock after selling 557 shares during the quarter. Invesco QQQ accounts for approximately 3.5% of Elm3 Financial Group LLC's holdings, making the stock its 8th biggest holding. Elm3 Financial Group LLC's holdings in Invesco QQQ were worth $4,154,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC grew its holdings in Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the 1st quarter valued at about $2,775,904,000. Spear Holdings RSC Ltd bought a new position in Invesco QQQ during the 1st quarter valued at about $474,600,000. Finally, Altimeter Capital Management LP bought a new position in Invesco QQQ during the 1st quarter valued at about $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.5%

Shares of NASDAQ:QQQ opened at $604.51 on Wednesday. The firm's 50-day moving average is $581.39 and its 200 day moving average is $533.92. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $609.71.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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