Stevens Capital Management LP Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Stevens Capital Management LP made a new investment in Invesco QQQ, purchasing 12,536 shares valued at approximately $5.88 million, representing 1.5% of its portfolio.
• A significant increase in holdings was noted among various institutional investors, with GAMMA Investing LLC raising its stake by an astonishing 55,795.2% in Q1.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized yield of 0.42%.

Stevens Capital Management LP bought a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,536 shares of the exchange traded fund's stock, valued at approximately $5,878,000. Invesco QQQ accounts for about 1.5% of Stevens Capital Management LP's portfolio, making the stock its 17th biggest position.

Other institutional investors have also bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC raised its position in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after buying an additional 20 shares in the last quarter. Legacy Investment Solutions LLC grew its position in shares of Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. grew its holdings in shares of Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after buying an additional 21 shares during the last quarter. Finally, MTM Investment Management LLC boosted its holdings in shares of Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ stock traded up $1.36 during mid-day trading on Friday, reaching $566.37. 30,579,821 shares of the company's stock were exchanged, compared to its average volume of 40,473,144. The stock's 50 day moving average is $539.14 and its 200 day moving average is $508.84. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $567.70.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.42%.

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.