Stonehearth Capital Management LLC Cuts Position in Invesco QQQ $QQQ

by · The Markets Daily

Stonehearth Capital Management LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 49.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 411 shares of the exchange traded fund’s stock after selling 402 shares during the period. Stonehearth Capital Management LLC’s holdings in Invesco QQQ were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of QQQ. Brighton Jones LLC raised its holdings in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC raised its holdings in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after buying an additional 176 shares during the period. Triumph Capital Management raised its holdings in Invesco QQQ by 1.8% in the fourth quarter. Triumph Capital Management now owns 8,753 shares of the exchange traded fund’s stock valued at $4,475,000 after buying an additional 154 shares during the period. Janus Henderson Group PLC purchased a new position in Invesco QQQ in the fourth quarter valued at approximately $20,079,000. Finally, Nuveen Asset Management LLC purchased a new position in Invesco QQQ in the fourth quarter valued at approximately $11,247,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.4%

QQQ opened at $586.66 on Friday. The firm’s 50 day moving average is $568.24 and its 200-day moving average is $520.50. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $587.86.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

About Invesco QQQ

(Free Report)

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.

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