Invesco QQQ $QQQ is Flagstar Advisors Inc.'s 3rd Largest Position

Key Points

• Flagstar Advisors Inc. reduced its holdings in Invesco QQQ by 12.9%, selling 3,619 shares and holding 24,544 shares after the sale, which is worth approximately $13.55 million.
• Invesco QQQ has announced a quarterly dividend of $0.694 per share, an increase from the previous $0.59, with an upcoming payment date of October 31st.
• The stock opened at $599.35, with a twelve-month range between $402.39 and $600.05, reflecting its ongoing performance in the market.

Flagstar Advisors Inc. cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,544 shares of the exchange traded fund's stock after selling 3,619 shares during the period. Invesco QQQ accounts for approximately 3.8% of Flagstar Advisors Inc.'s investment portfolio, making the stock its 3rd largest holding. Flagstar Advisors Inc.'s holdings in Invesco QQQ were worth $13,554,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Invesco QQQ by 3.5% during 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. Nuveen Asset Management LLC bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $11,247,000. Drucker Wealth 3.0 LLC boosted its stake in Invesco QQQ by 22.0% in the 4th quarter. Drucker Wealth 3.0 LLC now owns 650 shares of the exchange traded fund's stock valued at $333,000 after buying an additional 117 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in Invesco QQQ in the 4th quarter valued at $294,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.5%

Shares of QQQ traded up $2.85 during trading hours on Monday, hitting $602.20. 57,065,386 shares of the stock traded hands, compared to its average volume of 47,450,008. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The business has a fifty day moving average of $573.11 and a 200-day moving average of $524.79.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.