Lifestyle Asset Management Inc. Makes New $792,000 Investment in Invesco QQQ $QQQ

Key Points

• Lifestyle Asset Management Inc. has made a new investment of approximately $792,000 in Invesco QQQ by acquiring 1,436 shares of the ETF during the 2nd quarter.
• Several hedge funds have significantly increased their holdings in Invesco QQQ, with Goldman Sachs Group Inc. growing its position by 959.6% in the first quarter, now owning over $11 billion worth of shares.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, indicating a dividend yield of 0.4% on an annualized basis.

Lifestyle Asset Management Inc. acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,436 shares of the exchange traded fund's stock, valued at approximately $792,000.

Several other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of 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. purchased a new position in shares of Invesco QQQ during the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 buying an additional 52,234 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after buying an additional 54,944 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $591.68 on Tuesday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $591.79. The business's 50-day moving average price is $569.03 and its 200 day moving average price is $521.27.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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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