Apexium Financial LP Sells 782 Shares of Invesco QQQ $QQQ

Key Points

• Apexium Financial LP has decreased its stake in Invesco QQQ by 0.4%, currently holding 191,507 shares, valued at approximately $105.6 million.
• Invesco QQQ has recently announced an increase in its quarterly dividend to $0.694 per share, up from $0.59, with a yield of 0.5% based on an annualized basis.
• 44.58% of Invesco QQQ shares are owned by institutional investors, with several hedge funds increasing their stakes significantly in the recent quarters.

Apexium Financial LP reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,507 shares of the exchange traded fund's stock after selling 782 shares during the quarter. Invesco QQQ comprises about 5.6% of Apexium Financial LP's portfolio, making the stock its 4th biggest position. Apexium Financial LP's holdings in Invesco QQQ were worth $105,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $603.18 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $607.33. The company's 50 day simple moving average is $579.85 and its 200-day simple moving average is $532.17.

Invesco QQQ Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, September 22nd. This is a boost 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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