Invesco QQQ (NASDAQ:QQQ) Holdings Lessened by Gruss & Co. LLC

Key Points

• Gruss & Co. LLC has reduced its holdings in Invesco QQQ by 66.7%, now owning only 1,000 shares, while other hedge funds have significantly increased their positions in the ETF.
• Invesco QQQ reported a dividend yield of 0.4%, with a quarterly dividend of $0.5911 per share declared in June.
• The stock opened at $565.01 and has fluctuated between a one-year low of $402.39 and a high of $574.63.

Gruss & Co. LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the exchange traded fund's stock after selling 2,000 shares during the period. Invesco QQQ makes up 2.0% of Gruss & Co. LLC's holdings, making the stock its 9th biggest position. Gruss & Co. LLC's holdings in Invesco QQQ were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Legacy Investment Solutions LLC raised its stake in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its stake in Invesco QQQ by 0.3% during 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 purchasing an additional 20 shares during the period. Willis Johnson & Associates Inc. raised its stake in Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC raised its stake in Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC raised its stake in Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock traded down $11.13 during trading on Friday, reaching $553.88. 69,290,965 shares of the stock were exchanged, compared to its average volume of 40,141,440. The business has a 50 day moving average price of $544.01 and a 200-day moving average price of $510.73. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.