GDS Wealth Management Raises Position in Invesco QQQ $QQQ

GDS Wealth Management grew its stake in Invesco QQQ (NASDAQ:QQQ) by 18.7% during the second quarter, Holdings Channel reports. The firm owned 1,526 shares of the exchange traded fund’s stock after purchasing an additional 240 shares during the period. GDS Wealth Management’s holdings in Invesco QQQ were worth $842,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its holdings 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 worth $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter worth $2,775,904,000. Symphony Financial Ltd. Co. purchased a new position in shares of Invesco QQQ in the 2nd quarter worth about $1,236,482,000. Finally, Altimeter Capital Management LP bought a new stake in Invesco QQQ in the first quarter worth about $463,293,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $599.87 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01. The stock’s 50-day simple moving average is $607.05 and its 200 day simple moving average is $567.67.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company 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.