Empower Advisory Group LLC Sells 1,844 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Empower Advisory Group LLC reduced its stake in Invesco QQQ by 10.4%, holding a total of 15,949 shares valued at approximately $7.48 million after selling shares in the first quarter.
• Other institutional investors have increased their positions in Invesco QQQ, with Legacy Investment Solutions lifting its stake by 8.2% and Cutler Investment Counsel increasing theirs by 1.4% in the most recent quarter.
• Invesco QQQ recently announced a dividend of $0.5911 per share, representing an annualized dividend of $2.36 and a yield of 0.4% as of June 23.

Empower Advisory Group LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,949 shares of the exchange traded fund's stock after selling 1,844 shares during the quarter. Empower Advisory Group LLC's holdings in Invesco QQQ were worth $7,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Eagle Capital Management LLC boosted its position in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares during the period. Brighton Jones LLC raised its holdings in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after acquiring an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC lifted its position 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 acquiring an additional 176 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Invesco QQQ by 25.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock valued at $1,467,000 after acquiring an additional 573 shares during the period. Finally, FMR LLC grew its holdings in shares of Invesco QQQ by 1.4% during the 4th quarter. FMR LLC now owns 788,926 shares of the exchange traded fund's stock worth $403,323,000 after purchasing an additional 10,861 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock traded up $1.92 during mid-day trading on Thursday, hitting $569.24. The stock had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. The firm has a fifty day simple moving average of $546.86 and a 200 day simple moving average of $511.70. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $574.63.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.