Invesco QQQ $QQQ Holdings Cut by Spectrum Wealth Advisory Group LLC

Key Points

• Spectrum Wealth Advisory Group LLC has reduced its holdings in Invesco QQQ by 2.4% during the first quarter, now owning 29,020 shares worth approximately $13.6 million.
• Other investors, including Alpine Bank Wealth Management and Atlantic Private Wealth LLC, have also made changes to their positions in Invesco QQQ, with some acquiring new stakes during the same quarter.
• The latest quarterly dividend amount paid to shareholders was $0.5911, representing an annualized yield of 0.4%.

Spectrum Wealth Advisory Group LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,020 shares of the exchange traded fund's stock after selling 703 shares during the period. Invesco QQQ comprises about 6.5% of Spectrum Wealth Advisory Group LLC's investment portfolio, making the stock its 5th largest position. Spectrum Wealth Advisory Group LLC's holdings in Invesco QQQ were worth $13,608,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $51,000. Banque Transatlantique SA acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $57,000. Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its position in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ opened at $570.40 on Friday. The firm has a 50 day moving average price of $562.24 and a 200 day moving average price of $517.38. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $583.32.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.

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