Interchange Capital Partners LLC Trims Stake in Invesco QQQ $QQQ

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Invesco QQQ by 81.9%, selling 485 shares and owning only 107 shares as of the latest SEC disclosure.
• Invesco QQQ's stock opened at $602.22, with a yearly trading range from $402.39 to $613.18.
• The ETF recently announced an increase in its quarterly dividend from $0.59 to $0.694, marking an annualized yield of 0.5% for shareholders of record.

Interchange Capital Partners LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 81.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107 shares of the exchange traded fund's stock after selling 485 shares during the quarter. Interchange Capital Partners LLC's holdings in Invesco QQQ were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC grew its holdings in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. grew its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ in the first quarter worth about $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ in the first quarter worth about $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in Invesco QQQ in the first quarter worth about $463,293,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

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

Invesco QQQ Increases Dividend

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

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.

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