Cherrydale Wealth Management LLC Sells 1,185 Shares of Invesco QQQ $QQQ

Key Points

• Cherrydale Wealth Management LLC reduced its stake in Invesco QQQ by 8.4%, selling 1,185 shares, and now holds 12,856 shares valued at approximately $7,092,000.
• Invesco QQQ declared a quarterly dividend of $0.694 per share, an increase from the previous dividend of $0.59, representing an annual yield of 0.5%.
• 44.58% of Invesco QQQ's stock is currently owned by institutional investors and hedge funds, indicating significant professional interest in the fund.

Cherrydale Wealth Management LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,856 shares of the exchange traded fund's stock after selling 1,185 shares during the quarter. Invesco QQQ makes up 2.5% of Cherrydale Wealth Management LLC's holdings, making the stock its 9th largest holding. Cherrydale Wealth Management LLC's holdings in Invesco QQQ were worth $7,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Compass Financial Services Inc raised its position in Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after buying an additional 19 shares during the period. MTM Investment Management LLC raised its position in Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares during the period. Cutler Investment Counsel LLC raised its position in Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after buying an additional 21 shares during the period. Riverbend Wealth Management LLC raised its position in Invesco QQQ by 0.3% during the first quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock valued at $3,832,000 after buying an additional 22 shares during the period. Finally, Selective Wealth Management Inc. raised its position in Invesco QQQ by 0.6% during the first quarter. Selective Wealth Management Inc. now owns 3,814 shares of the exchange traded fund's stock valued at $1,733,000 after buying an additional 23 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $602.20 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The business's fifty day moving average price is $573.11 and its 200 day moving average price is $524.79.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date of this dividend 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 0.5%.

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.

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