Capital Investment Counsel LLC Has $9.26 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Capital Investment Counsel LLC reduced its holdings in Invesco QQQ by 2.6%, owning 19,757 shares after selling 518 shares during the first quarter.
• Other institutional investors have also modified their positions, with notable activities including a new stake from Wilkins Miller Wealth Management worth $1,018,000 and a 17.6% increase by Sentinus LLC.
• The recent quarterly dividend announced for Invesco QQQ was $0.5911 per share, representing an annualized dividend of $2.36 with a yield of 0.4%.

Capital Investment Counsel LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,757 shares of the exchange traded fund's stock after selling 518 shares during the period. Invesco QQQ accounts for approximately 1.5% of Capital Investment Counsel LLC's holdings, making the stock its 16th largest holding. Capital Investment Counsel LLC's holdings in Invesco QQQ were worth $9,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Focus Partners Advisor Solutions LLC boosted its position in shares of Invesco QQQ by 10.5% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,211 shares of the exchange traded fund's stock worth $13,698,000 after purchasing an additional 2,772 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in Invesco QQQ by 18.1% during the first quarter. Ameriflex Group Inc. now owns 6,181 shares of the exchange traded fund's stock worth $2,898,000 after acquiring an additional 946 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in Invesco QQQ by 5.4% during the first quarter. Flputnam Investment Management Co. now owns 42,877 shares of the exchange traded fund's stock worth $20,106,000 after acquiring an additional 2,202 shares in the last quarter. Betterment LLC lifted its holdings in Invesco QQQ by 17.5% during the first quarter. Betterment LLC now owns 83,943 shares of the exchange traded fund's stock worth $39,363,000 after acquiring an additional 12,484 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its holdings in Invesco QQQ by 40.4% during the first quarter. Retirement Planning Co of New England Inc. now owns 17,241 shares of the exchange traded fund's stock worth $8,085,000 after acquiring an additional 4,958 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded up $5.37 during midday trading on Thursday, hitting $575.44. 38,950,871 shares of the company's stock were exchanged, compared to its average volume of 45,074,102. The stock's fifty day moving average price is $564.11 and its 200-day moving average price is $518.10. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32.

Invesco QQQ Cuts Dividend

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

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.