C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 8,488 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• C2P Capital Advisory Group LLC reduced its holdings in Invesco QQQ by 33.7%, selling 8,488 shares during the first quarter, leaving it with 16,685 shares valued at approximately $7.9 million.
• Multiple institutional investors have started new positions in Invesco QQQ, with recent acquisitions totaling amounts such as $35,000 and $57,000 in the last quarter.
• Invesco QQQ announced a recent quarterly dividend payment of $0.5911 per share, translating to an annualized dividend yield of 0.4%.

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors decreased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,685 shares of the exchange traded fund's stock after selling 8,488 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Invesco QQQ were worth $7,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth about $1,018,000. Sentinus LLC grew its holdings in shares of Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock worth $3,307,000 after buying an additional 970 shares in the last quarter. Sendero Wealth Management LLC bought a new position in shares of Invesco QQQ during the first quarter worth about $273,000. Cary Street Partners Financial LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth about $10,052,000. Finally, Baird Financial Group Inc. grew its holdings in shares of Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock worth $167,394,000 after buying an additional 12,627 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.3%

Shares of NASDAQ:QQQ traded up $7.20 during mid-day trading on Tuesday, reaching $580.05. 42,061,779 shares of the stock were exchanged, compared to its average volume of 44,394,500. Invesco QQQ has a one year low of $402.39 and a one year high of $580.35. The stock's 50 day simple moving average is $551.05 and its 200-day simple moving average is $512.86.

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. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date 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.