Invst LLC Has $18.55 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Invst LLC has reduced its position in Invesco QQQ by 12.6%, owning 39,553 shares worth approximately $18.55 million after selling 5,715 shares.
• A number of institutional investors significantly increased their holdings in Invesco QQQ, with Goldman Sachs Group Inc. boosting its position by 959.6% to approximately $11.3 billion.
• Invesco QQQ's latest quarterly dividend was $0.5911, representing an annualized yield of 0.4%.

Invst LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 39,553 shares of the exchange traded fund's stock after selling 5,715 shares during the period. Invesco QQQ comprises 2.5% of Invst LLC's investment portfolio, making the stock its 9th biggest position. Invst LLC's holdings in Invesco QQQ were worth $18,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Goldman Sachs Group Inc. grew its position in Invesco QQQ by 959.6% in 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 purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the 1st quarter worth about $2,775,904,000. GAMMA Investing LLC grew its position in Invesco QQQ by 55,795.2% in 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 in the last quarter. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter valued at about $474,600,000. Finally, Altimeter Capital Management LP purchased a new position in Invesco QQQ in the first quarter valued at about $463,293,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.6%

QQQ opened at $584.08 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $584.88. The company's 50-day moving average price is $567.63 and its two-hundred day moving average price is $519.99.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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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