Bollard Group LLC has enhanced its investment in Invesco QQQ, increasing its position by 5.9% during the second quarter of 2023. According to the firm’s recent Form 13F filing with the Securities and Exchange Commission, Bollard Group now holds 18,531 shares of the popular exchange-traded fund (ETF), valued at approximately $10.22 million.
The firm’s decision to acquire an additional 1,035 shares reflects a broader trend among institutional investors towards increasing their stakes in Invesco QQQ. In total, various hedge funds have made significant adjustments to their holdings in recent months.
Kingstone Capital Partners Texas LLC stands out with an astonishing increase of 704,593.7% in its stake, now owning 67,615,365 shares valued at $37.3 billion after purchasing an additional 67,605,770 shares in the same quarter. Such dramatic growth underscores the confidence some investors have in the ETF’s performance.
Similarly, JPMorgan Chase & Co. expanded its investment by 42.4%, bringing its total shares to 4,895,265, which are now worth approximately $2.7 billion following an acquisition of 1,457,109 shares. Other notable investors include Northwestern Mutual Wealth Management Co., which increased its stake by 0.7%, and Rockefeller Capital Management L.P., which boosted its holdings by 6.3%, now owning 1,101,906 shares valued at $611 million.
Market Performance and Dividend Announcement
As of October 31, 2023, Invesco QQQ shares opened at $625.48. The ETF has experienced a 12-month low of $402.39 and a high of $637.01. The current fifty-day simple moving average stands at $611.54, while the two-hundred-day average is $576.73.
Invesco QQQ recently announced a quarterly dividend of $0.694, payable to investors who were on record as of September 22, 2023. This represents an increase from the previous dividend of $0.59, translating to an annualized dividend of $2.78 and a yield of 0.4%. The ex-dividend date for this payment was also set for September 22.
Understanding Invesco QQQ
Invesco QQQ is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. Its primary investment objective is to deliver results that closely correspond to the price and yield performance of the Nasdaq-100 Index. By investing in QQQ, stakeholders gain access to a diversified portfolio that mirrors the component securities of the Nasdaq-100 Index.
As institutional investors continue to show confidence in Invesco QQQ, the ETF remains a focal point for those looking to invest in technology and growth-oriented companies. The ongoing shifts in share ownership reflect both the potential for growth in the tech sector and the strategic decisions by major investment firms.
Investors interested in tracking these movements can consult platforms like HoldingsChannel.com for the latest 13F filings and insider trades related to Invesco QQQ.
