Point72 Europe London LLP Has $30.06 Million Position in Invesco QQQ $QQQ

Key Points

• Point72 Europe London LLP has reduced its stake in Invesco QQQ by 44.7%, now owning 64,100 shares valued at approximately $30.06 million.
• Invesco QQQ has seen some activity from other hedge funds as well, with several increasing their stakes in the stock during the fourth quarter.
• The stock is currently priced at $570.40 and has a dividend yield of 0.4%, with an annualized dividend of $2.36.

Point72 Europe London LLP lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 64,100 shares of the exchange traded fund's stock after selling 51,831 shares during the period. Invesco QQQ makes up approximately 2.1% of Point72 Europe London LLP's portfolio, making the stock its 8th biggest holding. Point72 Europe London LLP's holdings in Invesco QQQ were worth $30,058,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Laird Norton Wetherby Wealth Management LLC boosted its stake in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after purchasing an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. boosted its stake in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares during the last quarter. MTM Investment Management LLC boosted its stake in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares during the last quarter. Cutler Investment Counsel LLC boosted its stake in Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after purchasing an additional 21 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its stake in shares of Invesco QQQ by 1.6% in the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $570.40 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32. The stock's 50 day moving average price is $562.24 and its 200-day moving average price is $517.30.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid 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 was Monday, June 23rd.

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.

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