O Connor Financial Group LLC Has $9.99 Million Holdings in Invesco QQQ $QQQ

Key Points

• O Connor Financial Group LLC increased its holdings in Invesco QQQ by 4.5%, now owning 17,962 shares valued at approximately $9.99 million, making it the firm's 8th largest position.
• Goldman Sachs Group Inc. significantly boosted its stake in Invesco QQQ by 959.6% in the first quarter, owning over 24 million shares valued at around $11.3 billion.
• The company recently cut its quarterly dividend to $0.5911 per share, translating to an annualized yield of 0.4%.

O Connor Financial Group LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,962 shares of the exchange traded fund's stock after buying an additional 770 shares during the period. Invesco QQQ makes up approximately 4.4% of O Connor Financial Group LLC's investment portfolio, making the stock its 8th biggest position. O Connor Financial Group LLC's holdings in Invesco QQQ were worth $9,991,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in QQQ. Goldman Sachs Group Inc. boosted its stake in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the first quarter valued at approximately $2,775,904,000. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the period. Spear Holdings RSC Ltd bought a new stake in shares of Invesco QQQ in the first quarter valued at approximately $474,600,000. Finally, Altimeter Capital Management LP bought a new stake in shares of Invesco QQQ in the first quarter valued at approximately $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.4%

Shares of QQQ stock opened at $586.66 on Monday. The stock has a 50 day simple moving average of $568.24 and a 200 day simple moving average of $520.68. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $587.86.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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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