Alpha Financial Partners LLC Sells 1,240 Shares of Invesco QQQ $QQQ

Key Points

• Alpha Financial Partners LLC reduced its stake in Invesco QQQ by 18.5% in the second quarter, now holding 5,469 shares valued at approximately $3,017,000.
• Several institutions, including Prostatis Group LLC and Transcendent Capital Group LLC, significantly increased their holdings in Invesco QQQ during the same period.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, an increase from the previous $0.59, which reflects a positive trend for the fund's income to shareholders.

Alpha Financial Partners LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,469 shares of the exchange traded fund's stock after selling 1,240 shares during the period. Invesco QQQ makes up approximately 2.2% of Alpha Financial Partners LLC's portfolio, making the stock its 8th biggest holding. Alpha Financial Partners LLC's holdings in Invesco QQQ were worth $3,017,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Prostatis Group LLC increased its holdings in shares of Invesco QQQ by 73.9% in the second quarter. Prostatis Group LLC now owns 62,121 shares of the exchange traded fund's stock valued at $34,269,000 after purchasing an additional 26,400 shares during the period. Second Half Financial Partners LLC increased its holdings in shares of Invesco QQQ by 9.3% in the second quarter. Second Half Financial Partners LLC now owns 6,721 shares of the exchange traded fund's stock valued at $3,708,000 after purchasing an additional 573 shares during the period. Transcendent Capital Group LLC increased its holdings in shares of Invesco QQQ by 75.6% in the second quarter. Transcendent Capital Group LLC now owns 16,376 shares of the exchange traded fund's stock valued at $9,034,000 after purchasing an additional 7,051 shares during the period. Hobbs Group Advisors LLC increased its holdings in shares of Invesco QQQ by 16.0% in the second quarter. Hobbs Group Advisors LLC now owns 3,132 shares of the exchange traded fund's stock valued at $1,728,000 after purchasing an additional 433 shares during the period. Finally, Summa Corp. boosted its stake in shares of Invesco QQQ by 227.0% in the second quarter. Summa Corp. now owns 1,880 shares of the exchange traded fund's stock valued at $1,037,000 after buying an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $589.55 on Monday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18. The stock's 50 day moving average price is $583.89 and its 200 day moving average price is $536.68.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.

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