Segment Wealth Management LLC Has $43.90 Million Stock Holdings in Invesco QQQ $QQQ

Segment Wealth Management LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,584 shares of the exchange traded fund’s stock after selling 85 shares during the quarter. Invesco QQQ comprises approximately 2.8% of Segment Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. Segment Wealth Management LLC’s holdings in Invesco QQQ were worth $43,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC boosted its holdings in shares of 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 period. Goldman Sachs Group Inc. boosted its stake in 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 during the period. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the 1st quarter valued at $2,775,904,000. Spear Holdings RSC Ltd bought a new stake in Invesco QQQ in the 1st quarter valued at $474,600,000. Finally, Altimeter Capital Management LP bought a new stake in Invesco QQQ in the 1st quarter valued at $463,293,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $603.18 on Friday. The firm has a 50-day moving average of $579.85 and a 200-day moving average of $532.17. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $607.33.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis 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.