Seamount Financial Group Inc. Boosts Stake in Invesco QQQ $QQQ

Key Points

• Seamount Financial Group Inc. increased its stake in Invesco QQQ by 12.1%, owning 7,395 shares valued at approximately $4.08 million, making it the 11th largest holding in their portfolio.
• Other hedge funds significantly boosted their positions in Invesco QQQ, with Kingstone Capital Partners raising its stake by 704,593.7% to own over 67 million shares worth about $37.3 billion.
• Invesco QQQ announced an increase in its quarterly dividend to $0.694 per share, up from $0.59, with the next payment scheduled for October 31st.

Seamount Financial Group Inc. lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,395 shares of the exchange traded fund's stock after purchasing an additional 796 shares during the quarter. Invesco QQQ accounts for about 2.1% of Seamount Financial Group Inc.'s investment portfolio, making the stock its 11th biggest holding. Seamount Financial Group Inc.'s holdings in Invesco QQQ were worth $4,079,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QQQ. Kingstone Capital Partners Texas LLC raised its stake in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 last quarter. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ during the first quarter valued at $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ during the first quarter valued at $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in Invesco QQQ during the first quarter valued at $463,293,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.5%

Invesco QQQ stock opened at $604.51 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $609.71. The stock has a fifty day moving average of $581.39 and a 200 day moving average of $533.92.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

Invesco QQQ 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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