Jackson Hole Capital Partners LLC Raises Stake in Invesco QQQ $QQQ

Key Points

• Jackson Hole Capital Partners LLC increased its stake in Invesco QQQ by 7.5% during the 2nd quarter, bringing its total to 14,115 shares valued at approximately $7.79 million.
• Multiple hedge funds, including Goldman Sachs, have significantly raised their holdings in Invesco QQQ, indicating strong institutional interest in the ETF.
• Invesco QQQ has declared a quarterly dividend of $0.694, up from the previous dividend of $0.59, reflecting a 0.5% yield for investors.

Jackson Hole Capital Partners LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,115 shares of the exchange traded fund's stock after acquiring an additional 989 shares during the period. Invesco QQQ makes up 1.4% of Jackson Hole Capital Partners LLC's investment portfolio, making the stock its 12th biggest holding. Jackson Hole Capital Partners LLC's holdings in Invesco QQQ were worth $7,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in QQQ. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after buying an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. raised 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ during the first quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its position in Invesco QQQ by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.8%

NASDAQ:QQQ opened at $610.58 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18. The stock has a fifty day simple moving average of $589.82 and a 200-day simple moving average of $544.88.

Invesco QQQ Increases Dividend

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

About Invesco QQQ

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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