Beacon Financial Group Increases Stock Position in Invesco QQQ $QQQ

Beacon Financial Group grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 25.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,526 shares of the exchange traded fund’s stock after purchasing an additional 307 shares during the quarter. Beacon Financial Group’s holdings in Invesco QQQ were worth $842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Invesco QQQ by 959.6% in the first 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 acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new stake in Invesco QQQ in the first quarter valued at approximately $2,775,904,000. GAMMA Investing LLC raised its holdings in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Spear Holdings RSC Ltd acquired a new stake in Invesco QQQ in the first quarter valued at approximately $474,600,000. Finally, Altimeter Capital Management LP acquired a new stake in Invesco QQQ in the first quarter valued at approximately $463,293,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $591.18 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $592.86. The company’s 50 day moving average is $569.81 and its two-hundred day moving average is $521.75.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.