Park Capital Management LLC WI Purchases New Shares in Invesco QQQ $QQQ

Key Points

• Park Capital Management LLC WI has acquired a new stake of 6,435 shares in Invesco QQQ, valued at approximately $3,550,000, making it the firm’s 7th largest holding.
• The latest dividend reported for Invesco QQQ was $0.5911, with an annualized yield of 0.4%, paid to stockholders of record on June 23rd.
• Invesco QQQ has seen significant activity from other hedge funds, with a noted increase in holdings by firms such as Atlantic Private Wealth LLC, which grew its stake by 3000% during the first quarter.

Park Capital Management LLC WI acquired a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,435 shares of the exchange traded fund's stock, valued at approximately $3,550,000. Invesco QQQ comprises 3.3% of Park Capital Management LLC WI's investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors have also recently modified their holdings of QQQ. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. raised its position in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after acquiring an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC raised its position in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $67,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.9%

QQQ stock traded up $5.32 during trading on Thursday, hitting $595.32. 60,907,904 shares of the company traded hands, compared to its average volume of 46,383,692. The stock's 50-day simple moving average is $571.28 and its 200 day simple moving average is $522.90. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $598.14.

Invesco QQQ Cuts Dividend

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

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.