Phoenix Financial Ltd. raised its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 147,959 shares of the exchange traded fund's stock after purchasing an additional 10,998 shares during the quarter. Invesco QQQ accounts for approximately 1.1% of Phoenix Financial Ltd.'s holdings, making the stock its 28th biggest position. Phoenix Financial Ltd.'s holdings in Invesco QQQ were worth $81,676,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC grew its stake in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. boosted its stake in 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 worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new position in Invesco QQQ in the 1st quarter worth approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 worth $1,501,063,000 after purchasing an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in 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 worth $1,163,036,000 after purchasing an additional 54,944 shares during the period. 44.58% of the stock is currently owned by institutional investors.
Invesco QQQ Trading Up 1.3%
NASDAQ QQQ opened at $611.54 on Tuesday. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18. The stock has a 50 day moving average price of $588.07 and a 200-day moving average price of $542.68.
Invesco QQQ Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59.
Invesco QQQ Company Profile
(
Free Report)
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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