Invesco QQQ (NASDAQ:QQQ) Stake Reduced by Defined Wealth Management LLC

Defined Wealth Management LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,966 shares of the exchange traded fund’s stock after selling 26 shares during the quarter. Invesco QQQ accounts for 2.7% of Defined Wealth Management LLC’s holdings, making the stock its 10th largest holding. Defined Wealth Management LLC’s holdings in Invesco QQQ were worth $3,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the second quarter valued at $30,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $29,000. Legacy Bridge LLC grew its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $461.04 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The business has a fifty day moving average price of $473.04 and a 200 day moving average price of $455.79.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were paid a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a yield of 0.66%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th.

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.