Sharp Financial Services LLC Boosts Stock Position in Invesco QQQ $QQQ

Key Points

• Sharp Financial Services LLC dramatically increased its stake in Invesco QQQ by 4,389.6%, acquiring a total of 43,774 shares, making it their 3rd largest position.
• Invesco QQQ recently declared a quarterly dividend of $0.694, an increase from the previous $0.59, which will be paid on October 31st, with a yield of 0.5%.
• The stock has experienced a notable performance fluctuation, with a 1-year low of $402.39 and a high of $613.18, reflecting significant investment interest from institutional investors.

Sharp Financial Services LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4,389.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,774 shares of the exchange traded fund's stock after acquiring an additional 42,799 shares during the period. Invesco QQQ accounts for 15.6% of Sharp Financial Services LLC's holdings, making the stock its 3rd biggest position. Sharp Financial Services LLC's holdings in Invesco QQQ were worth $24,147,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC raised its stake in Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. raised its stake in Invesco QQQ by 959.6% in the 1st 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. bought a new stake in Invesco QQQ in the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after acquiring an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after acquiring an additional 54,944 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ opened at $589.55 on Monday. The stock's fifty day simple moving average is $583.89 and its 200 day simple moving average is $536.68. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

Invesco QQQ Increases Dividend

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

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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