Bank Pictet & Cie Europe AG Lowers Position in Invesco QQQ $QQQ

Key Points

• Bank Pictet & Cie Europe AG reduced its holdings in Invesco QQQ by 21.1%, now owning 51,310 shares valued at approximately $28.2 million after selling 13,702 shares in the second quarter.
• Invesco QQQ recently declared a quarterly dividend increase to $0.694, up from the previous $0.59, reflecting a dividend yield of 0.5%.
• Other institutional investors have been actively adjusting their positions, with Brighton Jones LLC increasing their stake by 15.0% to own around 38,348 shares valued at $19.6 million.

Bank Pictet & Cie Europe AG trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,310 shares of the exchange traded fund's stock after selling 13,702 shares during the period. Bank Pictet & Cie Europe AG's holdings in Invesco QQQ were worth $28,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of 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 purchasing an additional 176 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Invesco QQQ by 8.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 8,409 shares of the exchange traded fund's stock valued at $4,299,000 after purchasing an additional 671 shares during the last quarter. Avant Financial Advisors LLC purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $465,000. Finally, Life Line Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $55,030,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $593.53 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87. The stock's 50 day moving average is $575.35 and its 200 day moving average is $526.62.

Invesco QQQ Increases Dividend

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

About Invesco QQQ

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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