Sand Hill Global Advisors LLC Raises Holdings in Invesco QQQ $QQQ

Key Points

• Sand Hill Global Advisors LLC increased its stake in Invesco QQQ by 1,854.2%, acquiring 128,702 shares to hold a total of 135,643 shares, making it the firm's 11th largest position.
• Goldman Sachs Group Inc. significantly boosted its stake in Invesco QQQ by 959.6%, now owning over 24 million shares valued at approximately $11.3 billion.
• The recent quarterly dividend paid by Invesco QQQ was $0.5911, representing an annualized dividend yield of 0.4%.

Sand Hill Global Advisors LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1,854.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,643 shares of the exchange traded fund's stock after purchasing an additional 128,702 shares during the quarter. Invesco QQQ comprises 2.6% of Sand Hill Global Advisors LLC's holdings, making the stock its 11th largest holding. Sand Hill Global Advisors LLC's holdings in Invesco QQQ were worth $63,606,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC grew its stake in Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares during the period. Willis Johnson & Associates Inc. boosted its position 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 buying an additional 21 shares during the last quarter. MTM Investment Management LLC boosted its position in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares during the last quarter. Cutler Investment Counsel LLC boosted its position in Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its position in Invesco QQQ by 1.6% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after purchasing an additional 22 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 1.4%

QQQ stock traded down $7.83 during midday trading on Tuesday, hitting $569.28. The company's stock had a trading volume of 53,368,393 shares, compared to its average volume of 43,500,540. The stock's 50-day moving average price is $555.76 and its 200 day moving average price is $514.82. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $583.32.

Invesco QQQ Cuts Dividend

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

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.