Summa Corp. Acquires 1,305 Shares of Invesco QQQ $QQQ

Key Points

• Summa Corp. increased its holdings in Invesco QQQ by 227.0% in Q2, bringing its total ownership to 1,880 shares valued at approximately $1,037,000.
• Invesco QQQ has seen significant investments from other institutions, including Kingstone Capital Partners Texas LLC, which raised its stake by 704,593.7%, owning over 67.6 million shares worth $37.3 billion.
• The company announced an increase in its quarterly dividend to $0.694, leading to an annualized yield of 0.5%, effective from October 31st.

Summa Corp. raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 227.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,880 shares of the exchange traded fund's stock after purchasing an additional 1,305 shares during the quarter. Invesco QQQ accounts for about 0.5% of Summa Corp.'s portfolio, making the stock its 20th largest position. Summa Corp.'s holdings in Invesco QQQ were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC lifted its position in Invesco QQQ by 704,593.7% during the second 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 purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased 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 worth $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ in the 1st quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. increased 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 worth $1,501,063,000 after buying an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.3% during 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 purchasing an additional 54,944 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $589.55 on Monday. The company's 50-day simple moving average is $583.89 and its two-hundred day simple moving average is $536.68. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. 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%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ 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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