WealthPLAN Partners LLC Decreases Position in Invesco QQQ (NASDAQ:QQQ)

WealthPLAN Partners LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,242 shares of the exchange traded fund’s stock after selling 1,102 shares during the period. Invesco QQQ accounts for about 1.6% of WealthPLAN Partners LLC’s portfolio, making the stock its 13th biggest position. WealthPLAN Partners LLC’s holdings in Invesco QQQ were worth $14,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Invesco QQQ by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock worth $1,219,115,000 after buying an additional 64,401 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Invesco QQQ by 10.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock worth $1,073,929,000 after buying an additional 206,608 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.4 %

Shares of NASDAQ QQQ opened at $473.24 on Tuesday. The business’s 50 day moving average price is $469.61 and its 200-day moving average price is $457.60. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were paid a $0.7615 dividend. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.64%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

Invesco QQQ 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.