Invesco QQQ (NASDAQ:QQQ) Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC reduced its stake in Invesco QQQ by 3.6%, now owning 106,695 shares valued at approximately $50.03 million.
• Invesco QQQ announced a quarterly dividend of $0.5911, representing a 0.42% yield, which will be paid on July 31st to stockholders of record on June 23rd.
• The stock has experienced significant volatility, with a 12-month low of $402.39 and a high of $567.70, currently opening at $566.37.

Allen Investment Management LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,695 shares of the exchange traded fund's stock after selling 4,036 shares during the period. Allen Investment Management LLC's holdings in Invesco QQQ were worth $50,031,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vawter Financial Ltd. acquired a new stake in shares of Invesco QQQ in the first quarter worth approximately $228,000. Serenus Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 0.5% in the first quarter. Serenus Wealth Advisors LLC now owns 102,140 shares of the exchange traded fund's stock worth $43,869,000 after acquiring an additional 550 shares during the last quarter. Motco boosted its stake in shares of Invesco QQQ by 5.5% in the first quarter. Motco now owns 1,142 shares of the exchange traded fund's stock worth $536,000 after acquiring an additional 60 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Invesco QQQ by 18.1% in the first quarter. TD Asset Management Inc now owns 1,378,074 shares of the exchange traded fund's stock worth $646,206,000 after acquiring an additional 210,894 shares during the last quarter. Finally, Rareview Capital LLC boosted its stake in shares of Invesco QQQ by 113.4% in the first quarter. Rareview Capital LLC now owns 33,028 shares of the exchange traded fund's stock worth $15,487,000 after acquiring an additional 17,548 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded down $0.47 during trading on Tuesday, reaching $567.67. The stock had a trading volume of 24,141,866 shares, compared to its average volume of 44,501,848. The business has a fifty day moving average price of $540.06 and a 200-day moving average price of $509.18. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $572.11.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is 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.