Rathbones Group PLC Has $12.85 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Rathbones Group PLC has reduced its holdings in Invesco QQQ by 6.9%, now owning 27,401 shares valued at approximately $12.8 million.
• Other hedge funds, including Goldman Sachs, significantly increased their positions in Invesco QQQ, with Goldman Sachs boosting its stake by 959.6%.
• The recent quarterly dividend declared for Invesco QQQ was $0.5911, yielding approximately 0.4% annually.

Rathbones Group PLC cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,401 shares of the exchange traded fund's stock after selling 2,042 shares during the quarter. Rathbones Group PLC's holdings in Invesco QQQ were worth $12,849,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Iyo Bank Ltd. bought a new position in Invesco QQQ during the first quarter worth about $971,000. Saiph Capital LLC increased its position in Invesco QQQ by 23.8% during the first quarter. Saiph Capital LLC now owns 2,610 shares of the exchange traded fund's stock worth $1,224,000 after acquiring an additional 502 shares during the period. Callan Family Office LLC increased its position in Invesco QQQ by 87.1% during the first quarter. Callan Family Office LLC now owns 7,037 shares of the exchange traded fund's stock worth $3,300,000 after acquiring an additional 3,275 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $148,000. Finally, Tranquilli Financial Advisor LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $227,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 0.4%

Shares of QQQ traded down $2.55 during mid-day trading on Friday, reaching $577.34. The company had a trading volume of 48,349,003 shares, compared to its average volume of 44,798,285. The company's 50 day simple moving average is $553.18 and its 200 day simple moving average is $513.78. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $583.32.

Invesco QQQ Cuts Dividend

The business also recently declared 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.