Park Edge Advisors LLC Raises Holdings in Invesco QQQ $QQQ

Key Points

• Park Edge Advisors LLC increased its holdings in Invesco QQQ by 130.7%, acquiring an additional 899 shares, bringing its total ownership to 1,587 shares valued at approximately $876,000.
• Invesco QQQ's stock opened at $586.66 and has fluctuated between a twelve-month low of $402.39 and a high of $587.86, indicating significant price movement.
• The company announced a quarterly dividend of $0.5911 per share, representing an annualized dividend of $2.36, with a yield of 0.4%.

Park Edge Advisors LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 130.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,587 shares of the exchange traded fund's stock after buying an additional 899 shares during the quarter. Park Edge Advisors LLC's holdings in Invesco QQQ were worth $876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Invesco QQQ by 959.6% in the 1st 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. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after buying an additional 52,234 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after buying an additional 54,944 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Invesco QQQ by 55,795.2% in the 1st 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. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $5.02 on Monday, hitting $591.68. The stock had a trading volume of 44,232,160 shares, compared to its average volume of 45,324,832. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $591.79. The company's 50 day moving average price is $568.24 and its 200-day moving average price is $520.68.

Invesco QQQ Cuts Dividend

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