Beacon Financial Planning Inc. Reduces Stock Holdings in Invesco QQQ $QQQ

Key Points

• Beacon Financial Planning Inc. has reduced its holdings in Invesco QQQ by 5.6%, owning 39,200 shares worth approximately $21.6 million, making it their second largest holding.
• Invesco QQQ is currently trading at $596.10, with a 52-week range between $402.39 and $602.87, and has increased its quarterly dividend to $0.694.
• Several institutional investors have recently bought or increased their stakes in Invesco QQQ, indicating ongoing interest in the ETF from the investment community.

Beacon Financial Planning Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,200 shares of the exchange traded fund's stock after selling 2,313 shares during the quarter. Invesco QQQ comprises approximately 12.1% of Beacon Financial Planning Inc.'s holdings, making the stock its 2nd largest holding. Beacon Financial Planning Inc.'s holdings in Invesco QQQ were worth $21,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Brighton Jones LLC increased its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its holdings in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares during the period. Nuveen Asset Management LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $11,247,000. Comprehensive Money Management Services LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $222,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Invesco QQQ in the 4th quarter valued at $193,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $596.10 on Thursday. The company's fifty day moving average price is $574.71 and its two-hundred day moving average price is $525.78. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $602.87.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date 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.

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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