Cohen Capital Management Inc. Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Cohen Capital Management Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,250 shares of the exchange traded fund’s stock after selling 522 shares during the period. Cohen Capital Management Inc.’s holdings in Invesco QQQ were worth $4,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QQQ. Hemington Wealth Management purchased a new position in Invesco QQQ in the first quarter worth $222,000. McClarren Financial Advisors Inc. increased its position in shares of Invesco QQQ by 23.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 4,441 shares of the exchange traded fund’s stock valued at $1,972,000 after purchasing an additional 837 shares during the last quarter. Coulter & Justus Financial Services LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at about $640,000. Geneos Wealth Management Inc. lifted its position in Invesco QQQ by 17.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 49,343 shares of the exchange traded fund’s stock worth $21,909,000 after buying an additional 7,467 shares during the last quarter. Finally, Essex LLC boosted its stake in Invesco QQQ by 6.3% in the first quarter. Essex LLC now owns 1,421 shares of the exchange traded fund’s stock worth $631,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.2 %

Shares of NASDAQ:QQQ traded down $11.03 on Thursday, reaching $491.93. 49,304,353 shares of the company traded hands, compared to its average volume of 40,271,289. The business’s 50-day simple moving average is $466.96 and its 200 day simple moving average is $441.76. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a $0.7615 dividend. This represents a $3.05 annualized dividend and a dividend yield of 0.62%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, June 24th.

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.