Kensington Asset Management LLC Raises Stock Position in Invesco QQQ $QQQ

Kensington Asset Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 2,124.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,881 shares of the exchange traded fund’s stock after acquiring an additional 350,388 shares during the quarter. Invesco QQQ accounts for approximately 15.3% of Kensington Asset Management LLC’s portfolio, making the stock its 2nd largest holding. Kensington Asset Management LLC owned about 0.06% of Invesco QQQ worth $202,386,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC raised its position in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. Wealth Group Ltd. lifted its holdings in Invesco QQQ by 305.2% in the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after buying an additional 4,835 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Invesco QQQ by 121.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 2,465 shares of the exchange traded fund’s stock worth $1,156,000 after buying an additional 1,354 shares during the last quarter. Finally, Madden Advisory Services Inc. increased its stake in shares of Invesco QQQ by 2.5% during the first quarter. Madden Advisory Services Inc. now owns 2,934 shares of the exchange traded fund’s stock valued at $1,376,000 after buying an additional 72 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.6%

Shares of QQQ stock opened at $599.87 on Thursday. The stock has a fifty day moving average of $607.05 and a 200 day moving average of $567.67. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01.

Invesco QQQ Increases Dividend

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

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.