Foundations Investment Advisors LLC Grows Holdings in Invesco QQQ Trust (NASDAQ:QQQ)
Foundations Investment Advisors LLC increased its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 27,087.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,564 shares of the exchange traded fund’s stock after purchasing an additional 369,201 shares during the quarter. Invesco QQQ Trust accounts for 8.5% of Foundations Investment Advisors LLC’s holdings, making the stock its biggest position. Foundations Investment Advisors LLC owned about 0.08% of Invesco QQQ Trust worth $95,750,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. FMR LLC raised its holdings in shares of Invesco QQQ Trust by 4.4% in the 1st quarter. FMR LLC now owns 155,853 shares of the exchange traded fund’s stock worth $28,000,000 after purchasing an additional 6,637 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Invesco QQQ Trust by 901.4% in the fourth quarter. Golden State Wealth Management LLC now owns 283,971 shares of the exchange traded fund’s stock worth $60,375,000 after acquiring an additional 255,614 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Invesco QQQ Trust in the fourth quarter worth approximately $5,528,000. Franklin Resources Inc. increased its position in shares of Invesco QQQ Trust by 2.1% in the fourth quarter. Franklin Resources Inc. now owns 11,679 shares of the exchange traded fund’s stock worth $2,484,000 after acquiring an additional 238 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Invesco QQQ Trust by 3.9% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 2,668 shares of the exchange traded fund’s stock worth $568,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 43.35% of the company’s stock.
Separately, ValuEngine downgraded shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 23rd will be given a dividend of $0.424 per share. The ex-dividend date is Monday, June 22nd. This is an increase from Invesco QQQ Trust’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a yield of 0.65%.
Invesco QQQ Trust 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.
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