Freedom Investment Management Inc. Sells 1,448 Shares of Invesco QQQ $QQQ

Key Points

• Freedom Investment Management Inc. reduced its stake in Invesco QQQ by 31.6%, selling 1,448 shares and now holding 3,140 shares valued at approximately $1,472,000.
• Other hedge funds have also been active, with several purchasing new stakes in Invesco QQQ, indicating ongoing interest from institutional investors.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, representing an annualized yield of 0.4%, payable to investors of record as of June 23rd.

Freedom Investment Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,140 shares of the exchange traded fund's stock after selling 1,448 shares during the period. Freedom Investment Management Inc.'s holdings in Invesco QQQ were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at $57,000. Finally, Blume Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 2,536 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.5%

Shares of QQQ opened at $571.97 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The stock has a fifty day moving average price of $557.92 and a 200-day moving average price of $515.64.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. 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.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.