Invesco QQQ $QQQ Shares Sold by North Star Investment Management Corp.

Key Points

• North Star Investment Management Corp. has reduced its stake in Invesco QQQ by 3.9%, owning 19,050 shares valued at approximately $10.5 million.
• Invesco QQQ recently announced an increase in its quarterly dividend to $0.694 per share, representing an annualized yield of 0.5%.
• Institutional ownership of Invesco QQQ is at 44.58%, with other significant investors increasing their stakes dramatically, such as Kingstone Capital Partners which raised its stake by over 700,000%.

North Star Investment Management Corp. reduced its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,050 shares of the exchange traded fund's stock after selling 783 shares during the quarter. Invesco QQQ accounts for 0.7% of North Star Investment Management Corp.'s investment portfolio, making the stock its 24th largest position. North Star Investment Management Corp.'s holdings in Invesco QQQ were worth $10,509,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in Invesco QQQ by 704,593.7% during the 2nd 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 buying an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ during the 1st quarter worth approximately $2,775,904,000. GAMMA Investing LLC increased its stake in Invesco QQQ by 55,795.2% during 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 buying an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ during the 1st quarter worth approximately $474,600,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4%

Shares of QQQ opened at $596.10 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The firm's 50 day moving average price is $574.71 and its 200 day moving average price is $525.78.

Invesco QQQ Increases Dividend

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

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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