Oribel Capital Management LP Lowers Stock Holdings in Invesco QQQ $QQQ

Key Points

• Oribel Capital Management LP has reduced its holdings in Invesco QQQ by 21.3%, dropping to 3,700 shares after selling 1,000 shares in the first quarter, with a reported value of $1,735,000.
• A number of institutional investors, including Eagle Capital Management LLC and Kovitz Investment Group Partners LLC, have made varying adjustments to their positions in Invesco QQQ, reflecting a trend among large investors regarding this ETF.
• Invesco QQQ recently announced a $0.5911 quarterly dividend, with a dividend yield of 0.4%, as part of its continued efforts to provide returns to shareholders.

Oribel Capital Management LP lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,700 shares of the exchange traded fund's stock after selling 1,000 shares during the period. Oribel Capital Management LP's holdings in Invesco QQQ were worth $1,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Eagle Capital Management LLC grew its position in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC grew its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC grew its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after acquiring an additional 176 shares during the period. First Trust Advisors LP purchased a new stake in Invesco QQQ during the fourth quarter valued at about $610,000. Finally, Kovitz Investment Group Partners LLC grew its position in Invesco QQQ by 31.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 65,304 shares of the exchange traded fund's stock valued at $33,386,000 after acquiring an additional 15,794 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $571.97 on Friday. The stock has a 50-day moving average price of $557.92 and a two-hundred day moving average price of $515.74. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

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

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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