Arvest Investments Inc. Sells 64 Shares of Invesco QQQ (NASDAQ:QQQ)

Arvest Investments Inc. reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 1.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,325 shares of the exchange traded fund’s stock after selling 64 shares during the quarter. Arvest Investments Inc.’s holdings in Invesco QQQ were worth $1,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $29,000. Voisard Asset Management Group Inc. bought a new position in Invesco QQQ in the fourth quarter valued at $35,000. Red Tortoise LLC raised its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $40,000. Finally, Friedenthal Financial bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $41,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $491.04 on Thursday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $491.17. The business has a 50 day moving average of $457.35 and a 200 day moving average of $437.90.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.62%.

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.