Courier Capital LLC Acquires 9,512 Shares of Invesco QQQ

On October 24, 2024, it was reported that Courier Capital LLC has made a significant investment by acquiring 9,512 shares of Invesco QQQ (NASDAQ:QQQ). This purchase took place during the third quarter and was valued at approximately $4,643,000.

Invesco QQQ is an exchange-traded fund that focuses on the performance of the Nasdaq-100 Index, providing investors with exposure to many of the largest non-financial companies listed on the Nasdaq stock market.

Other Hedge Fund Activities

In addition to Courier Capital's recent acquisition, several other hedge funds have adjusted their positions in Invesco QQQ. For instance, New Covenant Trust Company N.A. established a new stake in the ETF during the first quarter, valued at around $28,000. Meanwhile, Mechanics Financial Corp also initiated a new position in the second quarter, worth about $30,000.

Other notable investments include Chelsea Counsel Co., which acquired shares valued at approximately $40,000 during the first quarter, and CGC Financial Services LLC, which increased its position by 736.4% in the second quarter, owning 92 shares with a total value of $44,000.

CarsonAllaria Wealth Management Ltd. also raised its stake in Invesco QQQ by 30.4% in the first quarter, bringing its total to 103 shares valued at $46,000 after its most recent purchase.

It is worth noting that institutional investors now own roughly 44.58% of Invesco QQQ's stock.

Current Stock Performance of Invesco QQQ

As of the most recent trading session, NASDAQ:QQQ opened at $488.36. The fund's stock performance over time shows a 50-day moving average of $479.75 and a 200-day moving average of $466.12. Invesco QQQ has experienced a one-year low of $342.35 and a one-year high of $503.52.

Recent Dividend Announcement

Moreover, Invesco QQQ recently announced a quarterly dividend that will be distributed on October 31. Investors who were on record as of September 23 will receive a dividend of $0.677 per share. This signifies an annualized dividend rate of $2.71, corresponding to a yield of 0.55%.

Overview of Invesco QQQ

PowerShares QQQ Trust, Series 1, is a unit investment trust designed to issue Nasdaq-100 Index Tracking Stock. The primary investment goal of this trust is to yield investment results that closely align with the price and yield performance of the Nasdaq-100 Index. The trust gives investors the chance to buy units of beneficial interest, representing proportionate and undivided interests in the underlying portfolio of securities held within the trust, comprising nearly all components of the Nasdaq-100 Index at similar weightings.

Conclusion

Courier Capital LLC's strategic purchase reflects the growing interest among institutional investors in Invesco QQQ as it continues to offer robust opportunities for exposure to major technology-driven companies featured in the Nasdaq-100 Index.

Courier, Investment, Shares