HWG Holdings LP has increased its stake in Invesco QQQ (NASDAQ:QQQ) by 11.2% during the third quarter, as per their latest filing with the Securities and Exchange Commission. Following the acquisition of an additional 6,505 shares, HWG now owns a total of 64,704 shares, making Invesco QQQ approximately 9.8% of its portfolio and its second-largest holding. The total value of HWG Holdings LP’s investment in Invesco QQQ stands at $38,846,000.
Several other large investors have also adjusted their positions in Invesco QQQ recently. Notably, Kingstone Capital Partners Texas LLC made headlines by increasing its holdings by an astonishing 704,593.7% during the second quarter, resulting in ownership of 67,615,365 shares, equating to a value of $37.3 billion. JPMorgan Chase & Co. also enhanced its stake by 42.4%, owning 4,895,265 shares valued at around $2.7 billion after purchasing an additional 1,457,109 shares. Similarly, Northwestern Mutual Wealth Management Co. and HRT Financial LP increased their positions by 0.7% and 118.3%, respectively. Currently, institutional investors and hedge funds collectively hold 44.58% of Invesco QQQ.
Invesco QQQ’s stock performance has been notable, opening at $622.11 on Wednesday. The ETF has a one-year range, with a low of $402.39 and a high of $637.01. Its 50-day and 200-day simple moving averages sit at $614.97 and $585.38, respectively.
In addition to the increase in holdings, Invesco QQQ has announced a quarterly dividend of $0.7941 per share, which will be distributed on December 31 to shareholders recorded by December 22. This dividend represents an annual yield of 0.5%, marking an increase from the previous payout of $0.69.
In terms of the overall investment landscape, Invesco QQQ serves as a unit investment trust that tracks the Nasdaq-100 Index, allowing investors to gain exposure to a diverse array of major companies. Despite current market conditions, the activity of large institutional investors suggests a robust interest in Invesco QQQ, which could reflect a sense of confidence in the technology and innovation sectors it represents. As investors navigate the complexities of the markets, Invesco QQQ continues to attract attention as a prominent option in their portfolios.