Benedict Financial Advisors Inc. Sells 459 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Benedict Financial Advisors Inc. has reduced its holdings in Invesco QQQ by 8.3%, now owning 5,063 shares valued at approximately $2,374,000.
• Numerous institutional investors, including Bridge Generations Wealth Management LLC and Marshall & Sterling Wealth Advisors Inc., have recently entered positions in Invesco QQQ, indicating growing interest in the fund.
• Invesco QQQ has announced a quarterly dividend of $0.5911, with an annualized yield of 0.42%, to be paid on July 31st for shareholders of record by June 23rd.

Benedict Financial Advisors Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,063 shares of the exchange traded fund's stock after selling 459 shares during the period. Benedict Financial Advisors Inc.'s holdings in Invesco QQQ were worth $2,374,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth $36,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter worth $51,000. Finally, Banque Transatlantique SA bought a new stake in shares of Invesco QQQ in the 4th quarter worth $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.2%

NASDAQ QQQ traded up $1.22 on Monday, reaching $567.59. 17,704,173 shares of the company's stock traded hands, compared to its average volume of 44,560,781. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $569.04. The stock has a 50-day simple moving average of $539.14 and a 200 day simple moving average of $508.75.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.