Sound View Wealth Advisors Group LLC Has $14.23 Million Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Sound View Wealth Advisors Group LLC reduced its holdings in Invesco QQQ by 1.8%, owning 30,353 shares post-sale, which constitutes about 1.2% of its investment portfolio.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, with an annualized yield of 0.42%, scheduled for payment on July 31st.
• Institutional investors collectively hold approximately 44.58% of Invesco QQQ's stock, indicating significant institutional interest in the fund.

Sound View Wealth Advisors Group LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,353 shares of the exchange traded fund's stock after selling 566 shares during the quarter. Invesco QQQ comprises about 1.2% of Sound View Wealth Advisors Group LLC's investment portfolio, making the stock its 22nd biggest holding. Sound View Wealth Advisors Group LLC's holdings in Invesco QQQ were worth $14,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC grew its stake in shares of Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after acquiring an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after acquiring an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. grew its stake in shares of Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after acquiring an additional 21 shares during the last quarter. MTM Investment Management LLC grew its stake in shares of Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after acquiring an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC grew its stake in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after acquiring an additional 21 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.0%

Shares of NASDAQ QQQ traded down $11.13 during mid-day trading on Friday, hitting $553.88. The company had a trading volume of 69,290,965 shares, compared to its average volume of 40,141,440. The business's 50-day simple moving average is $544.01 and its 200-day simple moving average is $510.69. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63.

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 yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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.