Altimeter Capital Management LP Makes New $463.29 Million Investment in Invesco QQQ $QQQ

Altimeter Capital Management LP bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 988,000 shares of the exchange traded fund’s stock, valued at approximately $463,293,000. Invesco QQQ makes up about 9.3% of Altimeter Capital Management LP’s portfolio, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wilkins Miller Wealth Management LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $1,018,000. Sentinus LLC increased its position in Invesco QQQ by 17.6% in the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock valued at $3,307,000 after acquiring an additional 970 shares in the last quarter. Sendero Wealth Management LLC acquired a new stake in Invesco QQQ in the 1st quarter valued at about $273,000. Griffith & Werner Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $583,000. Finally, GSG Advisors LLC grew its position in shares of Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after buying an additional 585 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.8%

Shares of QQQ opened at $565.62 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32. The firm’s 50 day moving average price is $563.53 and its two-hundred day moving average price is $517.73.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

About Invesco QQQ

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.