Seaview Investment Managers LLC Has $16.15 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Seaview Investment Managers LLC increased its stake in Invesco QQQ by 15.0%, owning a total of 34,450 shares valued at approximately $16.15 million, making QQQ its largest position.
• Several hedge funds and institutional investors have recently acquired new positions in Invesco QQQ, with ownership by these entities at 44.58%.
• Invesco QQQ announced a recent dividend of $0.5911 per share, yielding about 0.4% on an annualized basis.

Seaview Investment Managers LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,450 shares of the exchange traded fund's stock after buying an additional 4,484 shares during the period. Invesco QQQ accounts for approximately 5.0% of Seaview Investment Managers LLC's holdings, making the stock its biggest position. Seaview Investment Managers LLC's holdings in Invesco QQQ were worth $16,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ in the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.0%

Shares of QQQ stock opened at $580.34 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The company has a 50 day simple moving average of $552.08 and a two-hundred day simple moving average of $513.33.

Invesco QQQ Cuts Dividend

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

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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