Carnegie Investment Counsel Sells 719 Shares of Invesco QQQ $QQQ

Key Points

• Carnegie Investment Counsel reduced its stake in Invesco QQQ by 3.2%, owning 21,412 shares after selling 719 shares, with a total value of approximately $11.81 million.
• The recent dividend announced is $0.694 per share, an increase from the previous dividend of $0.59, reflecting a positive change for shareholders.
• Invesco QQQ shares opened at $617.10 on Friday, with a 52-week range from $402.39 to $618.42.

Carnegie Investment Counsel cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,412 shares of the exchange traded fund's stock after selling 719 shares during the period. Carnegie Investment Counsel's holdings in Invesco QQQ were worth $11,812,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the first quarter valued at approximately $2,775,904,000. Spear Holdings RSC Ltd purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $474,600,000. Finally, Altimeter Capital Management LP bought a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $463,293,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.1%

Shares of Invesco QQQ stock opened at $617.10 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $618.42. The company has a fifty day moving average of $590.61 and a 200-day moving average of $546.26.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.4%.

Invesco QQQ 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.