SouthState Corp Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• SouthState Corp increased its stake in Invesco QQQ by 114.1% during the first quarter, raising its holdings to 14,920 shares valued at approximately $6.99 million.
• Hedge funds and institutional investors hold 44.58% of Invesco QQQ's stock, indicating a significant level of interest from larger investment firms.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, paid on July 31st, which reflects an annual yield of 0.4%.

SouthState Corp increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 114.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,920 shares of the exchange traded fund's stock after buying an additional 7,952 shares during the quarter. SouthState Corp's holdings in Invesco QQQ were worth $6,996,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Nuveen LLC bought a new stake in Invesco QQQ during the 1st quarter worth approximately $10,316,000. Strengthening Families & Communities LLC increased its holdings in Invesco QQQ by 9.5% during the 1st quarter. Strengthening Families & Communities LLC now owns 1,297 shares of the exchange traded fund's stock worth $621,000 after purchasing an additional 113 shares in the last quarter. AFT Forsyth & Company Inc. increased its holdings in Invesco QQQ by 1.8% during the 1st quarter. AFT Forsyth & Company Inc. now owns 1,740 shares of the exchange traded fund's stock worth $816,000 after purchasing an additional 30 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in Invesco QQQ by 2.8% during the 1st quarter. Mizuho Markets Americas LLC now owns 6,055 shares of the exchange traded fund's stock worth $2,839,000 after purchasing an additional 165 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of Invesco QQQ by 185.5% in the first quarter. Atlas Capital Advisors Inc. now owns 2,795 shares of the exchange traded fund's stock valued at $1,311,000 after acquiring an additional 1,816 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $7.20 during trading on Tuesday, hitting $580.05. The company's stock had a trading volume of 42,061,779 shares, compared to its average volume of 44,823,570. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $580.35. The business has a fifty day moving average of $550.00 and a 200-day moving average of $512.39.

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 paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a 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.