Courier Capital LLC Acquires 9,512 Shares of Invesco QQQ (NASDAQ:QQQ)

Courier Capital LLC has purchased a significant number of shares in Invesco QQQ (NASDAQ:QQQ), an exchange-traded fund, during the third quarter of the year. The firm acquired 9,512 shares valued at approximately $4,643,000, marking a new stake in this popular investment vehicle.

In addition to Courier Capital LLC, several other hedge funds have either increased their holdings or initiated new positions in Invesco QQQ. For instance, New Covenant Trust Company N.A. acquired a new stake valued at around $28,000 in the first quarter. Similarly, Mechanics Financial Corp and Chelsea Counsel Co. purchased stakes worth approximately $30,000 and $40,000, respectively, in the second and first quarters of the year.

Another notable purchase came from CGC Financial Services LLC, which raised its stake by an impressive 736.4% during the second quarter and now holds 92 shares valued at about $44,000 after acquiring an additional 81 shares. CarsonAllaria Wealth Management Ltd. also increased its holdings in Invesco QQQ by 30.4% in the first quarter, now owning 103 shares worth $46,000 after acquiring 24 more shares.

It is noteworthy that hedge funds and institutional investors collectively own 44.58% of Invesco QQQ.

Analysis of Invesco QQQ Performance

The stock performance of Invesco QQQ reflects strong market activity, opening at $488.36 on Thursday. The ETF has a 50-day moving average of $479.75 and a 200-day moving average of $466.12. Over the past year, Invesco QQQ has seen a low of $342.35 and a high of $503.52.

Dividend Announcement

On a separate note, Invesco QQQ has recently announced a quarterly dividend, which is set to be paid on October 31st. Investors recorded as of September 23rd will receive a dividend of $0.677 per share. This translates to an annualized dividend of $2.71, indicating a yield of 0.55%.

Insights into Invesco QQQ

The PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. Its primary objective is to provide investment results that correspond to the performance of the Nasdaq-100 Index. The Trust allows investors to purchase units representing proportionate undivided interests in the portfolio of securities held by the Trust, which includes almost all the securities in the Nasdaq-100 Index.

Investment, Shares, ETF