Altus Wealth Management LLC Reduces Position in Invesco QQQ $QQQ

Key Points

• Altus Wealth Management LLC has decreased its position in Invesco QQQ by 3.7%, selling 2,559 shares, and now holds 65,689 shares valued at approximately $36.2 million.
• Despite Altus reducing its stake, several other institutional investors have increased their holdings in Invesco QQQ, indicating ongoing interest in the fund.
• Invesco QQQ has announced a quarterly dividend increase to $0.694, reflecting a positive shift from its previous dividend of $0.59.

Altus Wealth Management LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,689 shares of the exchange traded fund's stock after selling 2,559 shares during the period. Invesco QQQ accounts for 17.3% of Altus Wealth Management LLC's investment portfolio, making the stock its 2nd biggest holding. Altus Wealth Management LLC's holdings in Invesco QQQ were worth $36,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sonora Investment Management Group LLC increased its stake in Invesco QQQ by 5.1% in the 2nd quarter. Sonora Investment Management Group LLC now owns 6,361 shares of the exchange traded fund's stock valued at $3,509,000 after buying an additional 310 shares during the last quarter. Coastline Trust Co increased its stake in Invesco QQQ by 5.7% in the 2nd quarter. Coastline Trust Co now owns 28,798 shares of the exchange traded fund's stock valued at $15,886,000 after buying an additional 1,542 shares during the last quarter. Financial Partners Group LLC increased its stake in Invesco QQQ by 10.5% in the 2nd quarter. Financial Partners Group LLC now owns 4,023 shares of the exchange traded fund's stock valued at $2,219,000 after buying an additional 381 shares during the last quarter. Worth Financial Advisory Group LLC increased its stake in Invesco QQQ by 2.9% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 987 shares of the exchange traded fund's stock valued at $545,000 after buying an additional 28 shares during the last quarter. Finally, Willow Creek Wealth Management Inc. increased its stake in Invesco QQQ by 27.0% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 1,179 shares of the exchange traded fund's stock valued at $651,000 after buying an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.4%

NASDAQ:QQQ opened at $595.97 on Monday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $602.87. The firm has a 50-day moving average price of $576.04 and a two-hundred day moving average price of $528.24.

Invesco QQQ Increases Dividend

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

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.

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