Fingerlakes Wealth Management Inc. Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Fingerlakes Wealth Management Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,682 shares of the exchange traded fund’s stock after selling 317 shares during the period. Invesco QQQ accounts for about 6.7% of Fingerlakes Wealth Management Inc.’s portfolio, making the stock its 2nd biggest holding. Fingerlakes Wealth Management Inc.’s holdings in Invesco QQQ were worth $7,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter worth approximately $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter worth $30,000. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ in the first quarter valued at about $29,000. Legacy Bridge LLC lifted its position in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth about $35,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock opened at $468.62 on Thursday. The company’s 50-day moving average price is $470.86 and its two-hundred day moving average price is $456.68. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was 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.