Invesco QQQ $QQQ Shares Sold by Gold Investment Management Ltd.

Key Points

• Gold Investment Management Ltd. drastically reduced its holdings in Invesco QQQ by 97.4%, selling 3,852 shares and leaving it with only 101 shares valued at around $55,000.
• Other institutions, such as Kingstone Capital Partners and Goldman Sachs, significantly increased their stakes in Invesco QQQ, highlighting a shift in investor sentiment.
• Invesco QQQ announced a quarterly dividend increase to $0.694, set to be paid on October 31st, which reflects a positive growth from the previous quarter's dividend of $0.59.

Gold Investment Management Ltd. reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 97.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101 shares of the exchange traded fund's stock after selling 3,852 shares during the quarter. Gold Investment Management Ltd.'s holdings in Invesco QQQ were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its position in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after acquiring an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Invesco QQQ by 959.6% during the first 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 period. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ during the first quarter worth approximately $2,775,904,000. Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ in the 1st quarter valued at $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $463,293,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.4%

Shares of QQQ opened at $605.73 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $607.16. The stock's fifty day simple moving average is $579.12 and its 200 day simple moving average is $530.93.

Invesco QQQ Increases Dividend

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

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.

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