Invesco QQQ $QQQ Position Increased by Quad Cities Investment Group LLC

Key Points

• Quad Cities Investment Group LLC increased its stake in Invesco QQQ by 9.4% during the second quarter, owning 9,353 shares valued at approximately $5.16 million, making it the fund's 10th largest position.
• Other institutional investors, including Kingstone Capital Partners and Goldman Sachs Group Inc., have also made significant increases in their holdings of Invesco QQQ, indicating strong institutional interest in this ETF.
• Invesco QQQ's stock opened at $599.35, with a recent dividend yield of 0.4%, after declaring a quarterly dividend of $0.5911.

Quad Cities Investment Group LLC increased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,353 shares of the exchange traded fund's stock after purchasing an additional 803 shares during the period. Invesco QQQ accounts for approximately 2.3% of Quad Cities Investment Group LLC's investment portfolio, making the stock its 10th biggest position. Quad Cities Investment Group LLC's holdings in Invesco QQQ were worth $5,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $1,018,000. Sendero Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 1st quarter worth approximately $273,000. Griffith & Werner Inc. purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $583,000. GSG Advisors LLC boosted its position in shares of Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after purchasing an additional 585 shares during the period. Finally, Amundi boosted its position in shares of Invesco QQQ by 6.3% during the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $2.85 during mid-day trading on Monday, reaching $602.20. 57,065,386 shares of the company were exchanged, compared to its average volume of 45,633,508. The firm's 50-day simple moving average is $572.19 and its 200 day simple moving average is $524.01. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87.

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 paid a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

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.