Invesco QQQ (NASDAQ:QQQ) Position Cut by KWB Wealth

KWB Wealth lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 16.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 695 shares of the exchange traded fund’s stock after selling 132 shares during the period. KWB Wealth’s holdings in Invesco QQQ were worth $309,000 as of its most recent filing with the SEC.

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

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $1.81 during midday trading on Friday, hitting $492.85. 3,114,705 shares of the stock were exchanged, compared to its average volume of 40,351,184. Invesco QQQ has a one year low of $342.35 and a one year high of $493.17. The business has a 50-day moving average price of $459.98 and a two-hundred day moving average price of $438.63.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be issued a $0.7615 dividend. This is a positive change 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 annualized dividend 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.