Ehrlich Financial Group Sells 1,058 Shares of Invesco QQQ $QQQ

Key Points

• Ehrlich Financial Group sold 1,058 shares of Invesco QQQ, reducing its stake by 38.2% to a total of 1,709 shares, valued at approximately $943,000.
• Goldman Sachs Group Inc. significantly increased its holdings in Invesco QQQ by 959.6%, acquiring an additional 21,823,765 shares worth around $11.3 billion during the first quarter.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, reflecting an annualized yield of 0.4% and a total dividend payout of $2.36.

Ehrlich Financial Group decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 38.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,709 shares of the exchange traded fund's stock after selling 1,058 shares during the period. Ehrlich Financial Group's holdings in Invesco QQQ were worth $943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ during the first quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after acquiring an additional 52,234 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after acquiring an additional 54,944 shares during the period. Finally, GAMMA Investing LLC boosted its position in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $591.68 on Tuesday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $591.79. The business has a 50-day simple moving average of $569.03 and a two-hundred day simple moving average of $521.27.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.

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