Quantum Financial Advisors LLC Buys 2,215 Shares of Invesco QQQ $QQQ

Key Points

• Quantum Financial Advisors LLC significantly increased its position in Invesco QQQ by 397% in the second quarter, bringing its holdings to $1.53 million worth of shares.
• Other hedge funds have also modified their positions, contributing to a total of 44.58% institutional ownership of Invesco QQQ.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, resulting in an annualized yield of 0.4%.

Quantum Financial Advisors LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 397.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,773 shares of the exchange traded fund's stock after buying an additional 2,215 shares during the period. Quantum Financial Advisors LLC's holdings in Invesco QQQ were worth $1,530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QQQ. Kingstone Capital Partners Texas LLC grew its position in shares of Invesco QQQ by 704,593.7% in 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. grew its position 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 acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $2,775,904,000. GAMMA Investing LLC grew its position 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 acquiring an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $474,600,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $4.39 during midday trading on Tuesday, hitting $597.81. 44,149,699 shares of the company were exchanged, compared to its average volume of 45,618,445. The firm's 50 day moving average price is $573.11 and its two-hundred day moving average price is $524.79. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $602.87.

Invesco QQQ Increases Dividend

The business also recently announced 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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.