Keystone Wealth Services LLC Cuts Stake in Invesco QQQ $QQQ

Key Points

• Keystone Wealth Services LLC reduced its stake in Invesco QQQ by 3.9%, making it the firm's 4th biggest holding with a value of approximately $11.66 million.
• The current share price of Invesco QQQ is $591.18, with a 52-week range between $402.39 and $592.86.
• The firm declared a quarterly dividend of $0.5911 per share, resulting in an annualized dividend of $2.36 and a dividend yield of 0.4%.

Keystone Wealth Services LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 21,138 shares of the exchange traded fund's stock after selling 866 shares during the period. Invesco QQQ makes up 2.8% of Keystone Wealth Services LLC's investment portfolio, making the stock its 4th biggest holding. Keystone Wealth Services LLC's holdings in Invesco QQQ were worth $11,660,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of QQQ. StrongBox Wealth LLC increased its stake in shares of Invesco QQQ by 1.1% in the 2nd quarter. StrongBox Wealth LLC now owns 17,009 shares of the exchange traded fund's stock valued at $9,383,000 after buying an additional 193 shares during the period. Thrive Wealth Management LLC grew its position in Invesco QQQ by 12.2% in the second quarter. Thrive Wealth Management LLC now owns 1,419 shares of the exchange traded fund's stock valued at $783,000 after purchasing an additional 154 shares in the last quarter. Breakwater Capital Group increased its position in shares of Invesco QQQ by 13.4% during the 2nd quarter. Breakwater Capital Group now owns 2,774 shares of the exchange traded fund's stock worth $1,530,000 after purchasing an additional 327 shares during the last quarter. Balefire LLC grew its holdings in Invesco QQQ by 43.3% during the second quarter. Balefire LLC now owns 18,754 shares of the exchange traded fund's stock worth $10,345,000 after purchasing an additional 5,666 shares during the period. Finally, Krilogy Financial LLC bought a new position in shares of Invesco QQQ in the second quarter valued at about $7,232,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.7%

Shares of QQQ traded up $4.03 during midday trading on Friday, reaching $599.35. 58,129,765 shares of the stock were exchanged, compared to its average volume of 47,115,312. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $600.05. The stock's 50 day simple moving average is $572.19 and its 200 day simple moving average is $523.62.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid 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%.

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.