Eaton Financial Holdings Company LLC Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Eaton Financial Holdings Company LLC has reduced its stake in Invesco QQQ by 18.5%, now owning 11,357 shares worth approximately $5,325,000.
• Other institutional investors, including Eagle Capital Management and Guggenheim Capital, have increased their stakes in Invesco QQQ during the same period, indicating varying market sentiment among institutional investors.
• Invesco QQQ's stock is currently trading at $577.34, with a recent dividend yield of 0.4% and an annualized dividend of $2.36.

Eaton Financial Holdings Company LLC decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,357 shares of the exchange traded fund's stock after selling 2,578 shares during the quarter. Invesco QQQ comprises 2.2% of Eaton Financial Holdings Company LLC's holdings, making the stock its 15th largest position. Eaton Financial Holdings Company LLC's holdings in Invesco QQQ were worth $5,325,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC raised its position in Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the period. Brighton Jones LLC raised its position 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 valued at $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC raised its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the period. Russell Investments Group Ltd. raised its position in Invesco QQQ by 25.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock valued at $1,467,000 after purchasing an additional 573 shares during the period. Finally, Guggenheim Capital LLC raised its position in Invesco QQQ by 119.8% in the fourth quarter. Guggenheim Capital LLC now owns 5,778 shares of the exchange traded fund's stock valued at $2,954,000 after purchasing an additional 3,149 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Shares of NASDAQ QQQ opened at $577.34 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32. The stock has a fifty day simple moving average of $554.13 and a 200-day simple moving average of $514.17.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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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