Menora Mivtachim Holdings LTD. Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Menora Mivtachim Holdings LTD. increased its stake in Invesco QQQ by 42.6% during the first quarter, owning 12,493 shares valued at approximately $5.86 million.
• Other institutional investors have also modified their positions, with significant increases from firms like Schneider Downs Wealth Management and Global Endowment Management, indicating growing interest in the ETF.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, representing an annualized dividend yield of 0.4%.

Menora Mivtachim Holdings LTD. lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,493 shares of the exchange traded fund's stock after purchasing an additional 3,735 shares during the period. Menora Mivtachim Holdings LTD.'s holdings in Invesco QQQ were worth $5,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Holdings LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $115,000. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Invesco QQQ by 18.2% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 1,412 shares of the exchange traded fund's stock worth $662,000 after purchasing an additional 217 shares during the period. Twin Focus Capital Partners LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $5,558,000. Forvis Mazars Wealth Advisors LLC lifted its position in shares of Invesco QQQ by 5.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 10,234 shares of the exchange traded fund's stock worth $4,799,000 after purchasing an additional 554 shares during the period. Finally, Global Endowment Management LP lifted its position in shares of Invesco QQQ by 358.0% in the 1st quarter. Global Endowment Management LP now owns 3,481 shares of the exchange traded fund's stock worth $1,632,000 after purchasing an additional 2,721 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.4%

NASDAQ:QQQ opened at $577.34 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The company has a 50-day moving average price of $554.13 and a 200-day moving average price of $514.17.

Invesco QQQ Cuts Dividend

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

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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