22,656 Shares in Invesco QQQ $QQQ Purchased by Ryan Investment Management Inc.

Key Points

• Ryan Investment Management Inc. has acquired 22,656 shares of Invesco QQQ, valued at approximately $12.5 million, making it the firm's 5th largest position.
• Goldman Sachs Group significantly increased its stake in Invesco QQQ by 959.6%, now holding over 24 million shares worth approximately $11.3 billion.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, representing an annualized yield of 0.4%.

Ryan Investment Management Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,656 shares of the exchange traded fund's stock, valued at approximately $12,498,000. Invesco QQQ accounts for approximately 8.0% of Ryan Investment Management Inc.'s portfolio, making the stock its 5th biggest holding.

A number of other hedge funds have also recently modified their holdings of QQQ. Goldman Sachs Group Inc. increased its position in shares of 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 buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new position in shares of Invesco QQQ during the first quarter valued at about $2,775,904,000. GAMMA Investing LLC increased its position in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares during the period. Spear Holdings RSC Ltd purchased a new position in shares of Invesco QQQ during the first quarter valued at about $474,600,000. Finally, Altimeter Capital Management LP purchased a new position in shares of Invesco QQQ during the first quarter valued at about $463,293,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.5%

NASDAQ:QQQ traded up $2.85 during mid-day trading on Monday, hitting $602.20. 57,065,386 shares of the company's stock were exchanged, compared to its average volume of 47,450,008. Invesco QQQ has a one year low of $402.39 and a one year high of $602.87. The business has a fifty day moving average price of $573.11 and a 200 day moving average price of $524.79.

Invesco QQQ Increases Dividend

The firm also recently disclosed 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 of this dividend is Monday, September 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%.

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.