Perennial Investment Advisors LLC Has $10.60 Million Stake in Invesco QQQ $QQQ

Perennial Investment Advisors LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 19,211 shares of the exchange traded fund’s stock after acquiring an additional 1,174 shares during the quarter. Invesco QQQ comprises 1.0% of Perennial Investment Advisors LLC’s holdings, making the stock its 18th largest holding. Perennial Investment Advisors LLC’s holdings in Invesco QQQ were worth $10,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its stake in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after buying an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth about $2,775,904,000. Symphony Financial Ltd. Co. bought a new position in shares of Invesco QQQ during the second quarter worth about $1,236,482,000. Finally, Altimeter Capital Management LP bought a new stake in Invesco QQQ in the 1st quarter valued at approximately $463,293,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.9%

Shares of QQQ opened at $603.66 on Tuesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $637.01. The company has a 50 day moving average of $606.35 and a 200-day moving average of $566.68.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were given a $0.694 dividend. 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. The ex-dividend date of this dividend was Monday, September 22nd.

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.