Invesco QQQ (NASDAQ:QQQ) is Kennicott Capital Management LLC’s 2nd Largest Position

Kennicott Capital Management LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,659 shares of the exchange traded fund’s stock after buying an additional 608 shares during the quarter. Invesco QQQ makes up 22.8% of Kennicott Capital Management LLC’s holdings, making the stock its 2nd largest position. Kennicott Capital Management LLC’s holdings in Invesco QQQ were worth $59,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after acquiring an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC increased its position in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after buying an additional 33,790 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after buying an additional 64,401 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $495.42 on Tuesday. The firm has a fifty day moving average of $478.57 and a 200 day moving average of $465.57. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.