Prime Capital Investment Advisors LLC Decreases Stock Holdings in Invesco QQQ $QQQ

Prime Capital Investment Advisors LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 24.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212,121 shares of the exchange traded fund’s stock after selling 66,832 shares during the quarter. Invesco QQQ accounts for approximately 1.6% of Prime Capital Investment Advisors LLC’s holdings, making the stock its 15th biggest holding. Prime Capital Investment Advisors LLC’s holdings in Invesco QQQ were worth $117,015,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its position in Invesco QQQ by 704,593.7% during 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 purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its position in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ during the 1st quarter valued at $2,775,904,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ during the 1st quarter valued at $474,600,000. Finally, Altimeter Capital Management LP purchased a new position in Invesco QQQ during the 1st quarter valued at $463,293,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $604.51 on Wednesday. The company’s fifty day simple moving average is $581.39 and its two-hundred day simple moving average is $533.92. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $609.71.

Invesco QQQ Increases Dividend

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

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.