Carnegie Investment Counsel Sells 805 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Carnegie Investment Counsel reduced its holdings in Invesco QQQ by 3.5%, selling 805 shares to hold a total of 22,131 shares valued at approximately $10.38 million.
• Invesco QQQ's stock increased by 0.2%, reaching $566.37, with a twelve-month low of $402.39 and a high of $567.70.
• The company announced a quarterly dividend of $0.5911 per share, reflecting an annualized dividend yield of 0.42%.

Carnegie Investment Counsel trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,131 shares of the exchange traded fund's stock after selling 805 shares during the period. Carnegie Investment Counsel's holdings in Invesco QQQ were worth $10,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. NorthStar Asset Management LLC NJ raised its holdings in Invesco QQQ by 5.6% during the first quarter. NorthStar Asset Management LLC NJ now owns 6,130 shares of the exchange traded fund's stock valued at $2,875,000 after buying an additional 324 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Invesco QQQ by 10.0% in the first quarter. Pinnacle Associates Ltd. now owns 188,479 shares of the exchange traded fund's stock worth $88,381,000 after buying an additional 17,103 shares during the last quarter. Opes Wealth Management LLC lifted its position in shares of Invesco QQQ by 54.7% in the first quarter. Opes Wealth Management LLC now owns 1,522 shares of the exchange traded fund's stock worth $714,000 after buying an additional 538 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Invesco QQQ by 17.6% in the first quarter. AE Wealth Management LLC now owns 79,658 shares of the exchange traded fund's stock worth $37,353,000 after buying an additional 11,944 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after buying an additional 2,536 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.3%

Invesco QQQ stock traded up $1.93 during trading hours on Monday, reaching $568.30. 12,690,495 shares of the company were exchanged, compared to its average volume of 44,519,457. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $569.04. The stock has a 50-day moving average of $539.14 and a 200 day moving average of $508.75.

Invesco QQQ Cuts Dividend

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

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.