Lmcg Investments LLC Sells 437 Shares of Invesco QQQ $QQQ

Key Points

• Lmcg Investments LLC has reduced its stake in Invesco QQQ by 4.2%, selling 437 shares and now holding 9,950 shares valued at approximately $5.49 million.
• Significant hedge fund activity includes Kingstone Capital Partners increasing its holdings by an astonishing 704,593.7%, adding over 67.6 million shares during the second quarter.
• Invesco QQQ announced a new quarterly dividend of $0.694 per share, an increase from the previous dividend of $0.59, indicating a positive trend for investors.

Lmcg Investments LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,950 shares of the exchange traded fund's stock after selling 437 shares during the quarter. Lmcg Investments LLC's holdings in Invesco QQQ were worth $5,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of QQQ. Kingstone Capital Partners Texas LLC boosted its position 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 purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ during the first quarter worth $2,775,904,000. Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ during the first quarter worth $474,600,000. Finally, Altimeter Capital Management LP bought a new position in shares of Invesco QQQ during the first quarter worth $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $589.55 on Friday. The firm has a fifty day moving average price of $583.89 and a 200 day moving average price of $536.30. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The business also recently announced 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. 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%. The ex-dividend date 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.