Invesco QQQ $QQQ is Pacific Center for Financial Services' 2nd Largest Position

Key Points

• Pacific Center for Financial Services reduced its holdings in Invesco QQQ by 3.0%, now owning 97,394 shares valued at approximately $45.67 million, making it their second-largest investment.
• Institutional investors and hedge funds collectively own 44.58% of Invesco QQQ, indicating significant institutional interest in the fund.
• The share price of Invesco QQQ recently opened at $576.06, with a 12-month low of $402.39 and a high of $583.32, showcasing its market volatility.

Pacific Center for Financial Services lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,394 shares of the exchange traded fund's stock after selling 3,050 shares during the quarter. Invesco QQQ comprises approximately 12.1% of Pacific Center for Financial Services' investment portfolio, making the stock its 2nd largest holding. Pacific Center for Financial Services' holdings in Invesco QQQ were worth $45,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ in the first quarter valued at approximately $2,775,904,000. NWI Management LP boosted its position in Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd acquired a new stake in shares of 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 Performance

Shares of QQQ traded up $1.64 during trading hours on Tuesday, hitting $580.51. The stock had a trading volume of 43,715,098 shares, compared to its average volume of 45,277,742. The firm has a 50-day moving average price of $565.79 and a 200 day moving average price of $518.70. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32.

Invesco QQQ Cuts Dividend

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