LJI Wealth Management LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

LJI Wealth Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 0.3% in the second quarter, Holdings Channel.com reports. The firm owned 28,065 shares of the exchange traded fund’s stock after selling 78 shares during the period. Invesco QQQ makes up approximately 3.0% of LJI Wealth Management LLC’s holdings, making the stock its 7th largest holding. LJI Wealth Management LLC’s holdings in Invesco QQQ were worth $13,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ in the second quarter worth $30,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ during the first quarter worth $29,000. Legacy Bridge LLC increased its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $35,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4 %

NASDAQ:QQQ opened at $471.44 on Thursday. The company has a 50-day moving average of $468.49 and a 200-day moving average of $457.89. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.65%.

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.