Beacon Capital Management Inc. Cuts Stake in Invesco QQQ $QQQ

Key Points

• Beacon Capital Management Inc. has decreased its stake in Invesco QQQ by 1.2%, holding 180,547 shares after selling 2,257 shares in the first quarter.
• Invesco QQQ's shares are currently valued at $93,933,000 for Beacon Capital, making it the fund's fourth largest position, which constitutes 4.7% of its investment portfolio.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, resulting in an annual yield of 0.4% based on the latest dividend payout.

Beacon Capital Management Inc. lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 180,547 shares of the exchange traded fund's stock after selling 2,257 shares during the period. Invesco QQQ accounts for 4.7% of Beacon Capital Management Inc.'s investment portfolio, making the stock its 4th biggest position. Beacon Capital Management Inc.'s holdings in Invesco QQQ were worth $93,933,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QQQ. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $51,000. Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares during the period. Atlantic Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $67,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.4%

NASDAQ:QQQ opened at $582.99 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.47. The company has a 50-day moving average price of $566.46 and a 200-day moving average price of $519.13.

Invesco QQQ Cuts Dividend

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

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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