Invesco QQQ $QQQ Holdings Lowered by WJ Wealth Management LLC

Key Points

• WJ Wealth Management LLC reduced its holdings in Invesco QQQ by 4.0%, now owning 21,899 shares, valued at approximately $12.08 million.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, representing an annualized yield of 0.5%.
• Other hedge funds also modified their holdings, with significant increases, highlighting a trend of interest in Invesco QQQ among institutional investors.

WJ Wealth Management LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,899 shares of the exchange traded fund's stock after selling 905 shares during the period. Invesco QQQ makes up 3.8% of WJ Wealth Management LLC's investment portfolio, making the stock its 7th largest holding. WJ Wealth Management LLC's holdings in Invesco QQQ were worth $12,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. GSG Advisors LLC boosted its stake in Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after purchasing an additional 585 shares during the period. Amundi boosted its stake in Invesco QQQ by 6.3% during the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after purchasing an additional 6,600 shares during the period. Jackson Wealth Management LLC boosted its stake in Invesco QQQ by 8.6% during the 1st quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock worth $9,428,000 after purchasing an additional 1,586 shares during the period. Greykasell Wealth Strategies Inc. boosted its stake in Invesco QQQ by 8.4% during the 1st quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund's stock worth $3,649,000 after purchasing an additional 605 shares during the period. Finally, AM Investment Strategies LLC boosted its stake in Invesco QQQ by 46.5% during the 1st quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock worth $904,000 after purchasing an additional 612 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.7%

Shares of NASDAQ:QQQ opened at $602.22 on Thursday. The firm has a fifty day moving average price of $586.10 and a 200 day moving average price of $538.48. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.