Gries Financial LLC Sells 3,179 Shares of Invesco QQQ $QQQ

Key Points

• Gries Financial LLC sold 3,179 shares of Invesco QQQ, reducing its holdings by 29.3% to 7,664 shares, which are currently valued at approximately $4.23 million.
• Invesco QQQ has announced an increase in its quarterly dividend from $0.59 to $0.694 per share, with the payment scheduled for October 31st.
• Institutional investors hold 44.58% of Invesco QQQ's stock, reflecting a significant level of interest from financial institutions.

Gries Financial LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,664 shares of the exchange traded fund's stock after selling 3,179 shares during the period. Invesco QQQ comprises approximately 0.8% of Gries Financial LLC's investment portfolio, making the stock its 21st biggest holding. Gries Financial LLC's holdings in Invesco QQQ were worth $4,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sendero Wealth Management LLC bought a new position in shares of Invesco QQQ during the first quarter worth approximately $273,000. GSG Advisors LLC increased its stake in shares of Invesco QQQ by 8.2% during the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after purchasing an additional 585 shares during the period. Amundi increased its stake in shares of Invesco QQQ by 6.3% during the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after purchasing an additional 6,600 shares during the period. Orser Capital Management LLC bought a new position in shares of Invesco QQQ during the first quarter worth approximately $566,000. Finally, Jackson Wealth Management LLC increased its stake in shares of Invesco QQQ by 8.6% during the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock worth $9,428,000 after purchasing an additional 1,586 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.5%

Shares of NASDAQ QQQ opened at $602.20 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The business's 50 day moving average is $573.11 and its 200-day moving average is $524.79.

Invesco QQQ Increases Dividend

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

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.

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.