Stephens Inc. AR Has $137.47 Million Holdings in Invesco QQQ $QQQ

Key Points

• Stephens Inc. AR reduced its holdings in Invesco QQQ by 5.2% in Q2, resulting in ownership of 249,198 shares worth approximately $137.47 million, making it the firm's 4th largest holding.
• Several institutional investors, including Kingstone Capital Partners and Goldman Sachs, significantly increased their stakes in Invesco QQQ, showcasing a growing interest in the ETF.
• Invesco QQQ announced a quarterly dividend increase, raising the payout to $0.694 per share, up from the previous $0.59, with a corresponding annualized dividend yield of 0.5%.

Stephens Inc. AR lowered its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,198 shares of the exchange traded fund's stock after selling 13,555 shares during the period. Invesco QQQ comprises about 1.9% of Stephens Inc. AR's holdings, making the stock its 4th largest holding. Stephens Inc. AR's holdings in Invesco QQQ were worth $137,467,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of 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 last quarter. Goldman Sachs Group Inc. lifted its stake in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ in the first quarter worth $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ in the first quarter worth $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in Invesco QQQ in the first quarter worth $463,293,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.7%

QQQ stock opened at $603.93 on Monday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18. The business's 50 day moving average price is $587.30 and its two-hundred day moving average price is $541.36.

Invesco QQQ Increases Dividend

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

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.

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