Rareview Capital LLC Has $15.49 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Rareview Capital LLC significantly increased its holdings in Invesco QQQ by 113.4% to 33,028 shares, valued at approximately $15.49 million, making it the firm's third largest position.
• Invesco QQQ shares reached a 52-week high of $567.70 and opened at $566.37, with the stock showing a 1-year low of $402.39.
• The company has declared a quarterly dividend of $0.5911 per share, resulting in an annualized yield of 0.42%, payable on July 31st to stockholders of record on June 23rd.

Rareview Capital LLC increased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 113.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,028 shares of the exchange traded fund's stock after acquiring an additional 17,548 shares during the period. Invesco QQQ makes up 9.8% of Rareview Capital LLC's portfolio, making the stock its 3rd biggest position. Rareview Capital LLC's holdings in Invesco QQQ were worth $15,487,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of QQQ. Prevail Innovative Wealth Advisors LLC lifted its position in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after acquiring an additional 20 shares during the last quarter. Legacy Investment Solutions LLC grew its holdings in shares of Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after acquiring an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after purchasing an additional 20 shares during the period. Willis Johnson & Associates Inc. lifted its holdings in shares of Invesco QQQ by 2.6% during the fourth 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. Finally, MTM Investment Management LLC boosted its position in shares of Invesco QQQ by 1.6% in 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 period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $566.37 on Friday. The business's 50-day moving average price is $539.14 and its 200 day moving average price is $508.84. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $567.70.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.

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