KPP Advisory Services LLC Sells 2,247 Shares of Invesco QQQ (NASDAQ:QQQ)

KPP Advisory Services LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,499 shares of the exchange traded fund’s stock after selling 2,247 shares during the quarter. Invesco QQQ accounts for about 5.7% of KPP Advisory Services LLC’s holdings, making the stock its largest holding. KPP Advisory Services LLC’s holdings in Invesco QQQ were worth $21,320,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $30,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $35,000. Finally, Chelsea Counsel Co. acquired a new position in Invesco QQQ in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.3 %

Shares of QQQ opened at $488.07 on Tuesday. The firm’s fifty day moving average is $468.22 and its two-hundred day moving average is $460.55. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

Invesco QQQ 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.