Invesco QQQ $QQQ is Beacon Capital Management LLC's 3rd Largest Position

Key Points

• Beacon Capital Management LLC has increased its stake in Invesco QQQ by 1.7%, making it the firm’s 3rd largest holding, valued at approximately $70.6 million.
• Several large investors, including Kingstone Capital Partners and Goldman Sachs Group, significantly increased their positions in Invesco QQQ, indicating strong institutional interest.
• Invesco QQQ recently declared a quarterly dividend of $0.694, a rise from the previous quarterly dividend of $0.59, reflecting improved shareholder returns.

Beacon Capital Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,045 shares of the exchange traded fund's stock after buying an additional 2,139 shares during the period. Invesco QQQ comprises 9.5% of Beacon Capital Management LLC's holdings, making the stock its 3rd biggest holding. Beacon Capital Management LLC's holdings in Invesco QQQ were worth $70,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC raised its holdings in shares of Invesco QQQ by 704,593.7% in 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 in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $595.97 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $602.87. The firm has a 50-day simple moving average of $576.04 and a 200-day simple moving average of $528.24.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

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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