Paloma Partners Management Co Has $544,000 Stock Holdings in Invesco QQQ $QQQ

Key Points

• Paloma Partners Management Co significantly reduced its investment in Invesco QQQ by 89.5%, leaving it with only 1,161 shares worth approximately $544,000.
• Multiple institutional investors, including Eagle Capital Management and Brighton Jones LLC, have increased their stakes in Invesco QQQ during the last quarter, indicating a mixed sentiment among institutional holders.
• The recent quarter also saw a dividend payment of $0.5911 per share from Invesco QQQ, reflecting a 0.4% yield annually.

Paloma Partners Management Co trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 89.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,161 shares of the exchange traded fund's stock after selling 9,929 shares during the period. Paloma Partners Management Co's holdings in Invesco QQQ were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Focus Partners Advisor Solutions LLC increased its position in shares of Invesco QQQ by 10.5% during the first quarter. Focus Partners Advisor Solutions LLC now owns 29,211 shares of the exchange traded fund's stock valued at $13,698,000 after purchasing an additional 2,772 shares during the period. Ameriflex Group Inc. boosted its position in Invesco QQQ by 18.1% in the first quarter. Ameriflex Group Inc. now owns 6,181 shares of the exchange traded fund's stock valued at $2,898,000 after buying an additional 946 shares in the last quarter. Flputnam Investment Management Co. grew its position in Invesco QQQ by 5.4% during the 1st quarter. Flputnam Investment Management Co. now owns 42,877 shares of the exchange traded fund's stock worth $20,106,000 after acquiring an additional 2,202 shares during the last quarter. Betterment LLC increased its stake in shares of Invesco QQQ by 17.5% in the first quarter. Betterment LLC now owns 83,943 shares of the exchange traded fund's stock valued at $39,363,000 after buying an additional 12,484 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in Invesco QQQ by 40.4% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 17,241 shares of the exchange traded fund's stock worth $8,085,000 after purchasing an additional 4,958 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock traded up $4.45 during midday trading on Wednesday, reaching $570.07. The company's stock had a trading volume of 54,107,185 shares, compared to its average volume of 42,395,224. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32. The business's 50-day simple moving average is $563.53 and its 200-day simple moving average is $517.73.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend 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.