Invesco QQQ $QQQ Shares Purchased by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC boosted its stake in Invesco QQQ by 40.5%, now holding 7,177 shares worth approximately $3.96 million.
• Many institutional investors, such as Ashton Thomas Securities LLC and Capital & Planning LLC, have also adjusted their positions in QQQ, reflecting a trend of increased interest among hedge funds.
• Invesco QQQ is set to increase its quarterly dividend to $0.694 per share, with an annualized yield of 0.5%, up from the previous dividend of $0.59.

Mattern Capital Management LLC increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 40.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,177 shares of the exchange traded fund's stock after acquiring an additional 2,070 shares during the quarter. Mattern Capital Management LLC's holdings in Invesco QQQ were worth $3,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Ashton Thomas Securities LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth about $252,000. Capital & Planning LLC increased its stake in Invesco QQQ by 29.8% during the 2nd quarter. Capital & Planning LLC now owns 4,687 shares of the exchange traded fund's stock worth $2,588,000 after buying an additional 1,077 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Invesco QQQ during the second quarter valued at approximately $3,191,000. OLD Second National Bank of Aurora lifted its position in shares of Invesco QQQ by 3.2% in the second quarter. OLD Second National Bank of Aurora now owns 800 shares of the exchange traded fund's stock valued at $441,000 after acquiring an additional 25 shares in the last quarter. Finally, Matauro LLC lifted its position in shares of Invesco QQQ by 6.2% in the second quarter. Matauro LLC now owns 10,905 shares of the exchange traded fund's stock valued at $6,016,000 after acquiring an additional 635 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.4%

Shares of QQQ opened at $603.18 on Friday. The stock has a 50 day moving average price of $579.85 and a 200 day moving average price of $531.81. Invesco QQQ has a one year low of $402.39 and a one year high of $607.33.

Invesco QQQ Increases Dividend

The firm 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 $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.

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