Lion Street Advisors LLC Acquires 2,281 Shares of Invesco QQQ $QQQ

Key Points

• Lion Street Advisors LLC increased its holdings in Invesco QQQ by 13.4%, acquiring an additional 2,281 shares, bringing its total to 19,338 shares.
• Invesco QQQ declared a quarterly dividend of $0.694 per share, an increase from the previous dividend of $0.59, with an annualized yield of 0.5%.
• Institutional ownership of Invesco QQQ stands at 44.58%, indicating strong interest from hedge funds and institutional investors.

Lion Street Advisors LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,338 shares of the exchange traded fund's stock after acquiring an additional 2,281 shares during the period. Invesco QQQ comprises 3.2% of Lion Street Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Lion Street Advisors LLC's holdings in Invesco QQQ were worth $10,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its position in 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 last quarter. Goldman Sachs Group Inc. raised 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 valued at $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the first quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of 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. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 2.1%

NASDAQ:QQQ opened at $602.01 on Tuesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18. The firm has a 50-day moving average price of $584.64 and a two-hundred day moving average price of $537.61.

Invesco QQQ Increases Dividend

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

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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