Cozad Asset Management Inc. Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Cozad Asset Management Inc. reduced its holdings in Invesco QQQ by 6.8%, selling 958 shares, and now owns 13,142 shares worth approximately $6,163,000.
• Multiple institutional investors have recently acquired stakes in Invesco QQQ, indicating strong interest in the fund, with 44.58% of the stock now owned by institutional investors.
• The quarterly dividend of $0.5911 will be paid to stockholders on July 31st, representing an annualized dividend of $2.36 with a yield of 0.42%.

Cozad Asset Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,142 shares of the exchange traded fund's stock after selling 958 shares during the quarter. Cozad Asset Management Inc.'s holdings in Invesco QQQ were worth $6,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in QQQ. N.E.W. Advisory Services LLC grew its holdings in Invesco QQQ by 43.3% in the 1st quarter. N.E.W. Advisory Services LLC now owns 8,535 shares of the exchange traded fund's stock worth $4,002,000 after acquiring an additional 2,577 shares during the last quarter. JSF Financial LLC boosted its stake in Invesco QQQ by 3.6% during the first quarter. JSF Financial LLC now owns 23,337 shares of the exchange traded fund's stock worth $10,943,000 after acquiring an additional 819 shares in the last quarter. Fiera Capital Corp boosted its stake in Invesco QQQ by 2.3% during the first quarter. Fiera Capital Corp now owns 736,273 shares of the exchange traded fund's stock worth $345,253,000 after acquiring an additional 16,527 shares in the last quarter. SLT Holdings LLC boosted its stake in Invesco QQQ by 1.9% during the first quarter. SLT Holdings LLC now owns 2,495 shares of the exchange traded fund's stock worth $1,170,000 after acquiring an additional 46 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in Invesco QQQ by 18.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 58,747 shares of the exchange traded fund's stock worth $27,548,000 after acquiring an additional 8,996 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 2.0%

NASDAQ:QQQ traded down $11.24 during mid-day trading on Friday, hitting $553.77. 55,959,957 shares of the company's stock were exchanged, compared to its average volume of 44,864,859. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63. The business has a fifty day moving average price of $543.12 and a 200 day moving average price of $510.39.

Invesco QQQ Cuts Dividend

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