HMS Capital Management LLC Has $11.92 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

HMS Capital Management LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,419 shares of the exchange traded fund’s stock after acquiring an additional 1,982 shares during the period. Invesco QQQ accounts for about 5.8% of HMS Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. HMS Capital Management LLC’s holdings in Invesco QQQ were worth $11,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the second quarter valued at about $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the first quarter worth about $40,000. CGC Financial Services LLC lifted its position in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $492.21 on Wednesday. Invesco QQQ has a 1-year low of $366.91 and a 1-year high of $503.52. The business has a 50 day simple moving average of $482.32 and a two-hundred day simple moving average of $470.09.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, September 23rd.

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.