Mirae Asset Global Investments Co. Ltd. Sells 176,033 Shares of Invesco QQQ $QQQ

Key Points

• Mirae Asset Global Investments Co. Ltd. has reduced its stake in Invesco QQQ by 29.8%, now holding 413,738 shares after selling 176,033 shares in the 2nd quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.694, which shows an increase from the previous dividend of $0.59, and will be paid to investors on October 31st.
• As of the latest filing, approximately 44.58% of Invesco QQQ shares are owned by institutional investors, indicating strong interest from large financial entities.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 413,738 shares of the exchange traded fund's stock after selling 176,033 shares during the quarter. Invesco QQQ accounts for 0.8% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 14th biggest holding. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Invesco QQQ worth $228,234,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of QQQ. GSG Advisors LLC raised its position in Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after purchasing an additional 585 shares during the period. Amundi raised its holdings in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after buying an additional 6,600 shares during the period. Jackson Wealth Management LLC lifted its stake in shares of Invesco QQQ by 8.6% during the 1st quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock worth $9,428,000 after acquiring an additional 1,586 shares during the last quarter. Greykasell Wealth Strategies Inc. boosted its holdings in Invesco QQQ by 8.4% during the 1st quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund's stock valued at $3,649,000 after acquiring an additional 605 shares during the period. Finally, AM Investment Strategies LLC boosted its holdings in Invesco QQQ by 46.5% during the 1st quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock valued at $904,000 after acquiring an additional 612 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.4%

Shares of Invesco QQQ stock opened at $603.18 on Friday. The stock's fifty day moving average is $579.85 and its two-hundred day moving average is $531.81. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $607.33.

Invesco QQQ Increases Dividend

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

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.

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.