Sunpointe LLC Takes $451,000 Position in Invesco QQQ $QQQ

Sunpointe LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 816 shares of the exchange traded fund’s stock, valued at approximately $451,000.

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

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $591.18 on Wednesday. The company has a 50 day simple moving average of $569.81 and a two-hundred day simple moving average of $521.75. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $592.86.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Profile

(Free Report)

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.

Read More

• Five stocks we like better than Invesco QQQ
• Breakout Stocks: What They Are and How to Identify Them
• Is It Time to Trim Your Positions in These 2 AI Stocks?
• High Dividend REITs: Are They an Ideal Way to Diversify?
• These 3 Tech Stocks Just Supercharged Their Buybacks
• Canada Bond Market Holiday: How to Invest and Trade
• 3 Dividend Stocks to Hold Through Market Volatility This Fall

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ – Free Report).