Flavin Financial Services Inc. Cuts Position in Invesco QQQ $QQQ

Key Points

• Flavin Financial Services Inc. has reduced its stake in Invesco QQQ by 11.1% during the 2nd quarter, holding 3,563 shares valued at approximately $1,966,000, making it the 21st largest holding in its portfolio.
• Multiple institutional investors have started new positions in Invesco QQQ, with notable purchases including Morgan Dempsey Capital Management ($30,000) and Marshall & Sullivan Inc. WA ($41,000) in the same quarter.
• Invesco QQQ announced an increase in its quarterly dividend to $0.694, with an annualized yield of 0.5%, representing a positive change from the previous dividend of $0.59.

Flavin Financial Services Inc. lessened its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,563 shares of the exchange traded fund's stock after selling 443 shares during the quarter. Invesco QQQ comprises 1.9% of Flavin Financial Services Inc.'s portfolio, making the stock its 21st biggest holding. Flavin Financial Services Inc.'s holdings in Invesco QQQ were worth $1,966,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC purchased a new position in Invesco QQQ during the 2nd quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the 2nd quarter valued at approximately $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the 1st quarter valued at approximately $51,000. Finally, Blume Capital Management Inc. grew its holdings in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $603.93 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18. The business has a 50 day simple moving average of $587.30 and a two-hundred day simple moving average of $540.73.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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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