Pennington Partners & CO. LLC Has $1.56 Million Stock Holdings in Invesco QQQ $QQQ

Key Points

• Pennington Partners & CO. LLC increased its stake in Invesco QQQ by 160% in the first quarter, buying 1,661 more shares to bring its total to 2,699 shares. The position was valued at about $1.56 million and represented roughly 0.5% of the firm’s portfolio.
• Several other institutional investors also added to QQQ holdings during the quarter, and institutional ownership stands at 44.58% of the ETF. This suggests continued broad interest from professional investors.
• Invesco QQQ was trading at $691.96 with a 52-week range of $551.68 to $748.65, and it recently increased its quarterly dividend to $0.8135 per share. That works out to an annualized dividend of $3.25 and a yield of about 0.5%.

Pennington Partners & CO. LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 160.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,699 shares of the exchange traded fund's stock after acquiring an additional 1,661 shares during the quarter. Invesco QQQ comprises approximately 0.5% of Pennington Partners & CO. LLC's investment portfolio, making the stock its 23rd biggest holding. Pennington Partners & CO. LLC's holdings in Invesco QQQ were worth $1,558,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. GC Wealth Management RIA LLC increased its stake in Invesco QQQ by 19.3% in the first quarter. GC Wealth Management RIA LLC now owns 47,935 shares of the exchange traded fund's stock valued at $27,667,000 after purchasing an additional 7,753 shares in the last quarter. Aristides Capital LLC boosted its position in shares of Invesco QQQ by 12.3% during the first quarter. Aristides Capital LLC now owns 18,363 shares of the exchange traded fund's stock worth $10,599,000 after purchasing an additional 2,013 shares in the last quarter. Compound Planning Inc. boosted its position in shares of Invesco QQQ by 5.7% during the first quarter. Compound Planning Inc. now owns 29,854 shares of the exchange traded fund's stock worth $17,231,000 after purchasing an additional 1,611 shares in the last quarter. Klingman & Associates LLC grew its holdings in shares of Invesco QQQ by 5.0% in the 1st quarter. Klingman & Associates LLC now owns 2,942 shares of the exchange traded fund's stock valued at $1,698,000 after buying an additional 140 shares during the period. Finally, CLG LLC grew its holdings in shares of Invesco QQQ by 12.8% in the 1st quarter. CLG LLC now owns 634 shares of the exchange traded fund's stock valued at $366,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ opened at $691.96 on Friday. Invesco QQQ has a 12 month low of $551.68 and a 12 month high of $748.65. The company has a fifty day simple moving average of $719.36 and a 200 day simple moving average of $655.76.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 22nd were issued a $0.8135 dividend. This represents a $3.25 annualized dividend and a dividend yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.73. The ex-dividend date was Monday, June 22nd.

More Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Some commentary remains constructive on the market’s earnings backdrop, with articles noting that earnings growth is still broadening and that large-cap technology fundamentals remain a key driver for index performance.
• Neutral Sentiment: Several pieces focus on QQQ’s long-term track record and comparisons with other funds, but they are more informational than market-moving for the ETF itself. Article Title
• Neutral Sentiment: Analysts and market writers are also debating whether the market is overvalued and whether equity rotation is accelerating, which may add to volatility in growth-heavy ETFs like QQQ.
• Negative Sentiment: Broad-market ETFs and U.S. equities moved lower during the session, and live market coverage pointed to the Dow falling as investors sold stocks ahead of key earnings reports, a backdrop that can weigh on QQQ. Article Title
• Negative Sentiment: Reports that Alphabet and Tesla sold off on earnings news are particularly relevant because both are major components of QQQ, raising concern that heavyweight tech earnings could drag the ETF lower. Article Title

Invesco QQQ Company 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.