Optimist Retirement Group LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Optimist Retirement Group LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,644 shares of the exchange traded fund’s stock after selling 109 shares during the period. Invesco QQQ accounts for about 1.7% of Optimist Retirement Group LLC’s investment portfolio, making the stock its 9th biggest holding. Optimist Retirement Group LLC’s holdings in Invesco QQQ were worth $3,183,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Invesco QQQ by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock worth $1,219,115,000 after acquiring an additional 64,401 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Invesco QQQ by 10.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock worth $1,073,929,000 after acquiring an additional 206,608 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $471.44 on Thursday. The company’s 50-day simple moving average is $468.49 and its two-hundred day simple moving average is $457.89. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Increases Dividend

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