Solitude Financial Services Buys 14,918 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Solitude Financial Services significantly increased its stake in Invesco QQQ by approximately 3,647.4%, acquiring an additional 14,918 shares in the first quarter, making it the 11th largest position in their portfolio.
• Invesco QQQ shares are currently valued at $7,187,000 by Solitude Financial Services, with a dividend yield of 0.4% following a quarterly dividend distribution.
• Other institutional investors, including Mullooly Asset Management and GAMMA Investing LLC, have also made significant moves in QQQ, indicating a strong interest among large investors.

Solitude Financial Services grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3,647.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,327 shares of the exchange traded fund's stock after acquiring an additional 14,918 shares during the quarter. Invesco QQQ comprises approximately 2.8% of Solitude Financial Services' portfolio, making the stock its 11th biggest position. Solitude Financial Services' holdings in Invesco QQQ were worth $7,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the first quarter worth $2,775,904,000. NWI Management LP grew its holdings in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares during the period. GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. Senator Investment Group LP bought a new stake in shares of Invesco QQQ in the fourth quarter worth $679,936,000. Finally, Spear Holdings RSC Ltd bought a new stake in shares of Invesco QQQ in the first quarter worth $474,600,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.0%

Shares of QQQ opened at $553.88 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63. The business has a fifty day moving average of $544.01 and a 200 day moving average of $510.67.

Invesco QQQ Cuts Dividend

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

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.