Synergy Asset Management LLC Grows Position in Invesco QQQ $QQQ

Synergy Asset Management LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,699 shares of the exchange traded fund’s stock after purchasing an additional 88 shares during the period. Synergy Asset Management LLC’s holdings in Invesco QQQ were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC increased its stake 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 last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Invesco QQQ by 959.6% in 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 in the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter worth about $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in shares of Invesco QQQ during the 1st quarter worth about $474,600,000. Finally, Altimeter Capital Management LP acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $463,293,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $603.18 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $607.33. The company’s 50 day moving average price is $579.85 and its 200 day moving average price is $531.81.

Invesco QQQ Increases Dividend

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

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.