Lyell Wealth Management LP Has $2.73 Million Holdings in Invesco QQQ $QQQ

Key Points

• Lyell Wealth Management LP increased its stake in Invesco QQQ by 10.4%, bringing its total holdings to $2.73 million.
• Invesco QQQ has experienced significant institutional investment, with notable increases in holdings from companies like Kingstone Capital Partners and Goldman Sachs.
• The company announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, with an annualized yield of 0.5%.

Lyell Wealth Management LP increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,956 shares of the exchange traded fund's stock after buying an additional 467 shares during the quarter. Lyell Wealth Management LP's holdings in Invesco QQQ were worth $2,734,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC boosted its holdings in shares of 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. lifted 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 buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new stake in shares of Invesco QQQ during the first quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted 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 in the last quarter. Finally, Commonwealth Equity Services LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ opened at $603.93 on Monday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18. The stock has a fifty day moving average of $587.30 and a 200-day moving average of $541.36.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This is an increase 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 of this dividend is Monday, September 22nd.

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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