Waterloo Capital L.P. Has $4.85 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Waterloo Capital L.P. cut its position in Invesco QQQ (NASDAQ:QQQ) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,127 shares of the exchange traded fund’s stock after selling 1,257 shares during the quarter. Waterloo Capital L.P.’s holdings in Invesco QQQ were worth $4,852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Legacy Bridge LLC boosted its position in shares of Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ during the fourth quarter worth $35,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $473.49 on Wednesday. The stock’s fifty day simple moving average is $469.12 and its two-hundred day simple moving average is $457.79. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a dividend of $0.7615 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, June 24th.

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.