Worth Asset Management LLC Boosts Stock Holdings in Invesco QQQ $QQQ

Key Points

• Worth Asset Management LLC increased its holdings in Invesco QQQ by 652% in Q2, making it the firm's 3rd largest position, amounting to $13.66 million.
• Various institutional investors have also made significant investments in Invesco QQQ, with some completing purchases in early 2023, indicating growing interest in this exchange-traded fund (ETF).
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, translating to an annualized yield of 0.4%, underscoring the fund's ongoing commitments to its shareholders.

Worth Asset Management LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 652.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,756 shares of the exchange traded fund's stock after purchasing an additional 21,464 shares during the period. Invesco QQQ accounts for 6.7% of Worth Asset Management LLC's investment portfolio, making the stock its 3rd biggest position. Worth Asset Management LLC's holdings in Invesco QQQ were worth $13,656,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of 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 worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ in the 1st quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco QQQ by 1.7% in the first 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 acquiring an additional 52,234 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Invesco QQQ by 2.3% in the first 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 acquiring an additional 54,944 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $4.03 during midday trading on Friday, hitting $599.35. 58,129,765 shares of the company traded hands, compared to its average volume of 47,115,312. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $600.05. The stock has a 50-day moving average price of $572.19 and a 200 day moving average price of $523.77.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

Invesco QQQ Company 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.