Summit Global Investments Has $21.97 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 16.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,854 shares of the exchange traded fund’s stock after selling 9,240 shares during the quarter. Invesco QQQ makes up about 1.5% of Summit Global Investments’ portfolio, making the stock its 10th biggest holding. Summit Global Investments’ holdings in Invesco QQQ were worth $21,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Global Assets Advisory LLC bought a new stake in Invesco QQQ in the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in Invesco QQQ by 934.0% in the 1st 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 purchasing an additional 3,102,568 shares during the period. Commonwealth Equity Services LLC boosted its stake in Invesco QQQ by 7.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock valued at $1,013,490,000 after purchasing an additional 162,691 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Invesco QQQ by 10.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock valued at $1,073,929,000 after acquiring an additional 206,608 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock traded down $1.01 on Tuesday, hitting $480.26. 29,093,753 shares of the company’s stock were exchanged, compared to its average volume of 40,848,633. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The company has a 50 day moving average of $474.94 and a 200 day moving average of $452.72.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. The ex-dividend date of this dividend was Monday, June 24th. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%.

Invesco QQQ Company 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.