Naples Global Advisors LLC Has $2.99 Million Holdings in Invesco QQQ $QQQ

Key Points

• Naples Global Advisors LLC increased its holdings in Invesco QQQ by 38.9%, reaching a total worth of $2.99 million after acquiring additional shares in the second quarter.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, a notable increase from the previous $0.59, marking an annualized dividend yield of 0.5%.
• Institutional ownership of Invesco QQQ is high, with approximately 44.58% of shares owned by various institutional investors and hedge funds, signaling strong interest in the ETF.

Naples Global Advisors LLC raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 38.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,421 shares of the exchange traded fund's stock after buying an additional 1,517 shares during the period. Naples Global Advisors LLC's holdings in Invesco QQQ were worth $2,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC boosted its position in 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 valued at $37,299,340,000 after buying an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $2,775,904,000. Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $474,600,000. Finally, Altimeter Capital Management LP acquired a new position in shares of Invesco QQQ during the first quarter worth approximately $463,293,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.4%

Shares of QQQ stock opened at $605.73 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $607.16. The firm's 50 day moving average is $579.12 and its 200-day moving average is $530.93.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date 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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