AGF Management Ltd. Sells 2,977 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• AGF Management Ltd. reduced its holdings in Invesco QQQ by 13.8%, selling 2,977 shares and ending up with 18,583 shares valued at approximately $8.7 million.
• Recent institutional investors have also made adjustments, with new stakes in Invesco QQQ totaling around $36,000 to $57,000 for various firms.
• Invesco QQQ reported a quarterly dividend of $0.5911, marking an annualized dividend yield of 0.4%.

AGF Management Ltd. lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,583 shares of the exchange traded fund's stock after selling 2,977 shares during the period. AGF Management Ltd.'s holdings in Invesco QQQ were worth $8,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Eagle Capital Management LLC boosted its position in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC raised its holdings in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Invesco QQQ by 25.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock valued at $1,467,000 after buying an additional 573 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in Invesco QQQ by 17.3% during the fourth quarter. Advisors Capital Management LLC now owns 9,782 shares of the exchange traded fund's stock valued at $5,001,000 after buying an additional 1,441 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $7.20 during trading on Tuesday, hitting $580.05. 42,061,779 shares of the company traded hands, compared to its average volume of 44,394,500. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $580.35. The business has a fifty day simple moving average of $551.05 and a 200 day simple moving average of $512.86.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 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.