IFG Advisors LLC Has $39.31 Million Stake in Invesco QQQ $QQQ

Key Points

• IFG Advisors LLC reduced its stake in Invesco QQQ by 0.7% to approximately $39.31 million, making it the firm's 5th largest holding.
• Invesco QQQ recently announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, reflecting a yield of 0.5%.
• Approximately 44.58% of Invesco QQQ's shares are owned by institutional investors, with several funds increasing their positions recently.

IFG Advisors LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,250 shares of the exchange traded fund's stock after selling 477 shares during the quarter. Invesco QQQ accounts for approximately 6.6% of IFG Advisors LLC's investment portfolio, making the stock its 5th largest holding. IFG Advisors LLC's holdings in Invesco QQQ were worth $39,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter worth $41,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the 1st quarter worth about $51,000. 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 worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its holdings in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.7%

Shares of Invesco QQQ stock opened at $602.22 on Thursday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The firm's 50-day moving average is $586.10 and its two-hundred day moving average is $538.48.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date 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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