Rareview Capital LLC increased its stake in Invesco QQQ (NASDAQ:QQQ – Free Report) by 6.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 27,169 shares of the exchange traded fund’s stock after acquiring an additional 1,681 shares during the period. Invesco QQQ comprises 8.7% of Rareview Capital LLC’s holdings, making the stock its 3rd largest position. Rareview Capital LLC’s holdings in Invesco QQQ were worth $14,988,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Goodman Advisory Group LLC purchased a new position in shares of Invesco QQQ in the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $25,000. Shcp LLC purchased a new stake in Invesco QQQ in the third quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Invesco QQQ by 2,150.0% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 43 shares during the period. Finally, Rachor Investment Advisory Services LLC bought a new position in Invesco QQQ in the fourth quarter worth $29,000. 44.58% of the stock is owned by institutional investors.
Invesco QQQ News Roundup
Here are the key news stories impacting Invesco QQQ this week:
- Positive Sentiment: Weaker-than-expected June jobs data helped cool rate-hike fears, which is generally supportive for growth stocks and the Nasdaq-100 holdings that dominate QQQ. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
- Positive Sentiment: Market commentary says the Nasdaq sell-off may have created a buying opportunity for QQQ after a weak first half for some of America’s biggest growth names. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
- Positive Sentiment: Reports that stocks and Nasdaq futures were holding up ahead of the payroll release suggest investors remain willing to stay in or add to large-cap tech exposure through QQQ. S&P 500, Nasdaq Futures Climb While Dow Futures Fall Ahead Of Key Jobs Report: META, MU, JACK, CEG Stocks In Focus
Invesco QQQ Price Performance
Invesco QQQ Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 22nd will be given a $0.8135 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $3.25 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.73.
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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