AIMZ Investment Advisors LLC Boosts Stake in Invesco QQQ $QQQ

Key Points

• AIMZ Investment Advisors LLC increased its stake in Invesco QQQ by 78.6% during the 1st quarter, owning 1,009 shares valued at approximately $473,000 as per its latest SEC filing.
• Several other institutional investors also modified their holdings in Invesco QQQ, with the largest changes including a 31.9% increase by Kovitz Investment Group Partners LLC.
• The Invesco QQQ stock has seen significant price fluctuations, with a 1-year low of $402.39 and a high of $583.32 as it opened at $571.97.

AIMZ Investment Advisors LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,009 shares of the exchange traded fund's stock after buying an additional 444 shares during the quarter. AIMZ Investment Advisors LLC's holdings in Invesco QQQ were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new stake in Invesco QQQ during the first quarter worth approximately $2,775,904,000. NWI Management LP boosted its position in Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC grew its stake in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd acquired a new position in Invesco QQQ in the 1st quarter valued at $474,600,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $0.88 during mid-day trading on Wednesday, hitting $573.49. 35,579,540 shares of the company's stock were exchanged, compared to its average volume of 44,845,480. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The stock has a 50-day simple moving average of $559.52 and a two-hundred day simple moving average of $516.36.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a 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.