Invesco QQQ $QQQ is Sanders Morris Harris LLC's Largest Position

Key Points

• Sanders Morris Harris LLC has reduced its stake in Invesco QQQ by 13.1%, now holding 221,060 shares, making it the firm's largest investment at approximately $121.9 million.
• Invesco QQQ will pay an increased quarterly dividend of $0.694 on October 31st, up from the previous $0.59, reflecting a yield of 0.5% annually.
• Institutional investors currently own 44.58% of Invesco QQQ's stock, indicating significant interest and investment in the fund.

Sanders Morris Harris LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 221,060 shares of the exchange traded fund's stock after selling 33,466 shares during the quarter. Invesco QQQ accounts for about 29.1% of Sanders Morris Harris LLC's investment portfolio, making the stock its largest holding. Sanders Morris Harris LLC's holdings in Invesco QQQ were worth $121,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of 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 in the last quarter. Wealth Group Ltd. grew its position in Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock valued at $3,010,000 after purchasing an additional 4,835 shares in the last quarter. GAMMA Investing LLC increased its stake in Invesco QQQ by 19.2% in the 1st quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock valued at $1,872,000 after buying an additional 643 shares during the period. Finally, Veridan Wealth LLC lifted its position in Invesco QQQ by 28.3% in the 1st quarter. Veridan Wealth LLC now owns 5,691 shares of the exchange traded fund's stock worth $2,669,000 after buying an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $611.54 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The company's fifty day simple moving average is $588.07 and its 200-day simple moving average is $542.68.

Invesco QQQ Increases Dividend

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