Northern Capital Management Inc. Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Northern Capital Management Inc. reduced its holdings in Invesco QQQ by 0.9%, now owning 58,667 shares worth approximately $27.5 million.
• Institutional investors now hold 44.58% of Invesco QQQ, with several firms recently increasing their stakes.
• Invesco QQQ's latest quarterly dividend was $0.5911, reflecting an annual yield of 0.4%.

Northern Capital Management Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,667 shares of the exchange traded fund's stock after selling 537 shares during the period. Invesco QQQ accounts for approximately 17.9% of Northern Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Northern Capital Management Inc.'s holdings in Invesco QQQ were worth $27,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $1.92 during mid-day trading on Thursday, reaching $569.24. 44,049,632 shares of the company's stock were exchanged, compared to its average volume of 44,292,076. The business's fifty day simple moving average is $547.85 and its two-hundred day simple moving average is $512.02. Invesco QQQ has a one year low of $402.39 and a one year high of $574.63.

Invesco QQQ Cuts Dividend

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