Droms Strauss Advisors Inc. MO ADV lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,052 shares of the exchange traded fund's stock after selling 721 shares during the quarter. Invesco QQQ comprises 5.8% of Droms Strauss Advisors Inc. MO ADV's portfolio, making the stock its 6th largest position. Droms Strauss Advisors Inc. MO ADV's holdings in Invesco QQQ were worth $18,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its stake in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth about $11,247,000. Menard Financial Group LLC bought a new position in shares of Invesco QQQ in the 4th quarter worth about $108,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Invesco QQQ in the 4th quarter worth about $1,349,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.
Invesco QQQ Price Performance
NASDAQ:QQQ opened at $598.20 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $602.87. The company's 50-day simple moving average is $573.94 and its 200 day simple moving average is $525.30.
Invesco QQQ Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.
About Invesco QQQ
(
Free Report)
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.
Further Reading
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).
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