RDA Financial Network Has $10.26 Million Position in Invesco QQQ $QQQ

Key Points

• RDA Financial Network reduced its stake in Invesco QQQ by 15.2%, now holding 18,596 shares valued at approximately $10.26 million, making it the firm's 5th largest holding.
• Goldman Sachs Group significantly increased its position in Invesco QQQ by 959.6%, acquiring over 21 million shares valued at about $11.3 billion.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, representing an annual yield of 0.4% based on the company's latest performance data.

RDA Financial Network trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,596 shares of the exchange traded fund's stock after selling 3,322 shares during the period. Invesco QQQ makes up 2.8% of RDA Financial Network's portfolio, making the stock its 5th biggest holding. RDA Financial Network's holdings in Invesco QQQ were worth $10,258,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Invesco QQQ by 959.6% during the first 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. acquired a new position in Invesco QQQ in the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its position in Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $586.66 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $587.86. The firm has a 50-day moving average price of $568.24 and a 200 day moving average price of $520.54.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend 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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