Invesco QQQ (NASDAQ:QQQ) Position Decreased by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC reduced its holdings in Invesco QQQ by 0.3%, now owning 154,218 shares valued at approximately $72.3 million.
• Other institutional investors, including Wilkins Miller Wealth Management and Cary Street Partners Financial, have either purchased new positions or lifted their stakes in Invesco QQQ during recent quarters.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, reflecting an annualized total of $2.36 and a yield of 0.4%.

Frank Rimerman Advisors LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,218 shares of the exchange traded fund's stock after selling 470 shares during the quarter. Invesco QQQ makes up 5.7% of Frank Rimerman Advisors LLC's portfolio, making the stock its 2nd largest holding. Frank Rimerman Advisors LLC's holdings in Invesco QQQ were worth $72,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilkins Miller Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth $1,018,000. Sentinus LLC lifted its stake in shares of Invesco QQQ by 17.6% during the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after buying an additional 970 shares in the last quarter. Sendero Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at $273,000. Cary Street Partners Financial LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $10,052,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Invesco QQQ by 4.0% during the 4th quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock valued at $167,394,000 after buying an additional 12,627 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ opened at $574.55 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.77. The firm's fifty day moving average is $549.00 and its 200 day moving average is $512.37.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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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