Invesco QQQ $QQQ Stock Position Cut by IFG Advisors LLC

by · The Markets Daily

IFG Advisors LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ – Free Report) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 71,250 shares of the exchange traded fund’s stock after selling 477 shares during the quarter. Invesco QQQ accounts for 6.6% of IFG Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. IFG Advisors LLC’s holdings in Invesco QQQ were worth $39,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Brighton Jones LLC grew its stake 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 purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its stake 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 purchasing an additional 176 shares during the last quarter. Wealth Group Ltd. grew its stake in Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after purchasing an additional 4,835 shares during the last quarter. GAMMA Investing LLC grew its stake in Invesco QQQ by 19.2% in the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund’s stock valued at $1,872,000 after purchasing an additional 643 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Invesco QQQ by 106.7% in the first quarter. QRG Capital Management Inc. now owns 12,709 shares of the exchange traded fund’s stock valued at $5,960,000 after purchasing an additional 6,559 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $602.22 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18. The stock’s 50-day simple moving average is $586.10 and its 200-day simple moving average is $538.48.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

Invesco QQQ Company Profile

(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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