GAMMA Investing LLC Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

GAMMA Investing LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,290 shares of the exchange traded fund’s stock after acquiring an additional 230 shares during the period. GAMMA Investing LLC’s holdings in Invesco QQQ were worth $630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Global Assets Advisory LLC purchased a new stake in Invesco QQQ during the 1st quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised its stake in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ during the 1st quarter valued at approximately $304,591,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.5 %

NASDAQ QQQ opened at $489.30 on Wednesday. The business’s 50 day moving average is $469.92 and its two-hundred day moving average is $462.07. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.