Marshall Financial Group LLC Sells 86 Shares of Invesco QQQ (NASDAQ:QQQ)

Marshall Financial Group LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 13,007 shares of the exchange traded fund’s stock after selling 86 shares during the period. Invesco QQQ makes up about 1.7% of Marshall Financial Group LLC’s portfolio, making the stock its 12th biggest position. Marshall Financial Group LLC’s holdings in Invesco QQQ were worth $5,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth about $29,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the 4th quarter worth about $35,000. Red Tortoise LLC increased its stake in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares in the last quarter. Robinson Capital Management LLC bought 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 in the 4th quarter worth about $41,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $491.04 on Friday. Invesco QQQ has a one year low of $342.35 and a one year high of $491.17. The company’s 50-day moving average is $459.98 and its 200 day moving average is $438.63.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company Profile

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.