Bollard Group LLC has enhanced its investment in Invesco QQQ by 5.9% during the second quarter of 2023, now holding a stake valued at approximately $10.22 million. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission, Bollard Group LLC acquired an additional 1,035 shares, bringing its total to 18,531 shares in the exchange-traded fund.
This increase in ownership comes amid a broader trend, as several hedge funds also adjusted their positions in Invesco QQQ. Notably, Kingstone Capital Partners Texas LLC dramatically expanded its stake by an astonishing 704,593.7% during the same quarter. Kingstone now owns 67,615,365 shares, valued at approximately $37.3 billion, after purchasing an additional 67,605,770 shares.
Another significant player, JPMorgan Chase & Co., raised its position by 42.4%, resulting in ownership of 4,895,265 shares worth about $2.7 billion. Additionally, Northwestern Mutual Wealth Management Co. increased its stake by 0.7%, now holding 3,223,327 shares valued at $1.78 billion after acquiring 22,220 shares.
The investment landscape for Invesco QQQ also includes Symphony Financial Ltd. Co., which entered the market with a new position valued at $1.24 billion, and Rockefeller Capital Management L.P., which boosted its stake by 6.3%, now owning 1,101,906 shares worth approximately $611 million. Overall, institutional investors currently hold 44.58% of Invesco QQQ’s shares.
Stock Performance and Dividend Announcement
As of October 27, 2023, Invesco QQQ shares opened at $625.48, having reached a 12-month low of $402.39 and a high of $637.01. The fund has maintained a fifty-day simple moving average of $611.54 and a two-hundred-day average of $576.73.
In a recent development, Invesco QQQ announced a quarterly dividend of $0.694, which was paid on October 31, 2023. Investors who held shares as of September 22, 2023, received this dividend, representing an annualized total of $2.78 and a yield of 0.4%. This increase from the previous quarterly dividend of $0.59 reflects the fund’s ongoing commitment to rewarding its investors.
Understanding Invesco QQQ
Invesco QQQ, also known as PowerShares QQQ Trust, Series 1, is a unit investment trust that issues securities tracking the Nasdaq-100 Index. Its primary objective is to mirror the price and yield performance of this index, providing investors with a means to gain exposure to the performance of large, non-financial companies listed on the Nasdaq Stock Market.
The recent adjustments in holdings and the dividend announcement highlight the continuing interest in Invesco QQQ among institutional investors. With its robust performance and strategic investments, Invesco QQQ remains a significant player in the exchange-traded fund market.
