BOCHK Asset Management Ltd Makes New $23.17 Million Investment in Invesco QQQ $QQQ

BOCHK Asset Management Ltd bought a new position in Invesco QQQ (NASDAQ:QQQ) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 42,000 shares of the exchange traded fund’s stock, valued at approximately $23,169,000. Invesco QQQ accounts for approximately 6.7% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 3rd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in Invesco QQQ by 704,593.7% in the 2nd 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. increased its position 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 buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ in the 1st quarter valued at about $2,775,904,000. Spear Holdings RSC Ltd bought a new stake in Invesco QQQ in the 1st quarter valued at about $474,600,000. Finally, Altimeter Capital Management LP bought a new stake in Invesco QQQ in the 1st quarter valued at about $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.4%

Shares of Invesco QQQ stock opened at $605.73 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $607.16. The business has a 50-day simple moving average of $579.12 and a 200 day simple moving average of $530.93.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change 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.