Lansing Street Advisors Has $12.88 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Lansing Street Advisors increased its stake in Invesco QQQ by 6.7%, acquiring a total of 23,318 shares valued at approximately $12.88 million.
• Invesco QQQ recently raised its quarterly dividend to $0.694 per share, up from the previous $0.59, representing an annual yield of 0.5%.
• Institutional ownership of Invesco QQQ is significant, with 44.58% of shares held by hedge funds and institutional investors, indicating strong market interest.

Lansing Street Advisors grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,318 shares of the exchange traded fund's stock after purchasing an additional 1,469 shares during the quarter. Invesco QQQ comprises approximately 3.8% of Lansing Street Advisors' portfolio, making the stock its 4th biggest holding. Lansing Street Advisors' holdings in Invesco QQQ were worth $12,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Invesco QQQ by 704,593.7% in the second 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 buying an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% in 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 buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the first quarter worth about $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in shares of Invesco QQQ in the first quarter worth about $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in shares of Invesco QQQ in the first quarter worth about $463,293,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $611.44 on Thursday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $611.75. The company's 50-day moving average price is $582.26 and its 200-day moving average price is $534.45.

Invesco QQQ Increases Dividend

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

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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