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Invesco QQQ $QQQ Stock: Greenup Street Wealth Management LLC Increases Holdings

Invesco QQQ logo with background
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Key Points

  • Greenup Street Wealth Management increased its QQQ position by 3.2% in the third quarter to 196,560 shares valued at approximately $145.4 million, making QQQ its largest holding at 17.9% of the portfolio.
  • Institutional interest remained strong, with several firms sharply increasing or initiating QQQ positions; institutions and hedge funds collectively own 44.58% of the ETF.
  • QQQ opened at $690.49, down 3.5%, amid technology-sector and interest-rate concerns. Its quarterly dividend also fell to $0.7514 per share, equivalent to a 0.4% annualized yield.
  • Five stocks to consider instead of Invesco QQQ.

Greenup Street Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,560 shares of the exchange traded fund's stock after purchasing an additional 6,051 shares during the quarter. Invesco QQQ makes up approximately 17.9% of Greenup Street Wealth Management LLC's portfolio, making the stock its largest holding. Greenup Street Wealth Management LLC's holdings in Invesco QQQ were worth $145,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of QQQ. GoalVest Advisory LLC grew its stake in Invesco QQQ by 20,256.6% in the 3rd quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund's stock valued at $454,185,000 after buying an additional 610,939 shares during the last quarter. Corient Private Wealth LP lifted its position in Invesco QQQ by 506.8% during the 2nd quarter. Corient Private Wealth LP now owns 545,270 shares of the exchange traded fund's stock worth $401,553,000 after acquiring an additional 455,412 shares during the last quarter. Alaska Permanent Fund Corp acquired a new position in Invesco QQQ during the 2nd quarter worth $207,072,000. International Assets Investment Management LLC boosted its holdings in Invesco QQQ by 390.3% during the third quarter. International Assets Investment Management LLC now owns 300,000 shares of the exchange traded fund's stock valued at $221,931,000 after acquiring an additional 238,814 shares during the period. Finally, Senator Investment Group LP bought a new stake in Invesco QQQ during the second quarter valued at about $157,221,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

More Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

Invesco QQQ Stock Down 3.5%

Shares of NASDAQ:QQQ opened at $690.49 on Friday. The stock's 50-day moving average is $725.00 and its 200-day moving average is $679.01. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $762.86.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were given a dividend of $0.7514 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.01 annualized dividend and a dividend yield of 0.4%. This is a drop from Invesco QQQ's previous quarterly dividend of $0.8135.

Invesco QQQ Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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