Joel Isaacson & Co. LLC Increases Stake in Invesco QQQ $QQQ

Key Points

• Joel Isaacson & Co. LLC increased its stake in Invesco QQQ by 3.6%, owning 26,770 shares worth approximately $14.77 million at the end of the most recent quarter.
• Other institutional investors also significantly raised their positions, with Kingstone Capital Partners increasing its holdings by 704,593.7%, now owning over 67.6 million shares.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, effective on October 31st for record holders.

Joel Isaacson & Co. LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,770 shares of the exchange traded fund's stock after purchasing an additional 929 shares during the period. Invesco QQQ accounts for approximately 0.6% of Joel Isaacson & Co. LLC's portfolio, making the stock its 26th biggest holding. Joel Isaacson & Co. LLC's holdings in Invesco QQQ were worth $14,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of 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 acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new position in shares of Invesco QQQ during the 1st quarter worth $2,775,904,000. Spear Holdings RSC Ltd purchased a new position in shares of Invesco QQQ during the 1st quarter worth $474,600,000. Finally, Altimeter Capital Management LP purchased a new position in shares of Invesco QQQ during the 1st quarter worth $463,293,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.5%

NASDAQ QQQ opened at $604.51 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $609.71. The business's fifty day simple moving average is $581.39 and its 200-day simple moving average is $533.92.

Invesco QQQ Increases Dividend

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

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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