Buffington Mohr McNeal Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Buffington Mohr McNeal lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,197 shares of the exchange traded fund’s stock after selling 97 shares during the quarter. Buffington Mohr McNeal’s holdings in Invesco QQQ were worth $531,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ during the first quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ during the fourth quarter worth about $35,000. Red Tortoise LLC grew its holdings in shares of Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Invesco QQQ during the fourth quarter worth about $41,000. Finally, Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $486.98 on Wednesday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $487.20. The business’s 50-day moving average price is $456.11 and its 200 day moving average price is $437.32.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.63%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.