Invesco QQQ $QQQ Position Decreased by Scott Capital Advisors LLC

Key Points

• Scott Capital Advisors LLC has reduced its position in Invesco QQQ by 1.1%, making it the 5th largest holding in their portfolio, valued at approximately $26.6 million.
• Other institutional investors have increased their stakes in Invesco QQQ, with Halter Ferguson Financial Inc. boosting its holdings by 74.4% during the same quarter.
• Invesco QQQ's recent quarterly dividend was $0.5911, translating to a 0.4% yield, with the ex-dividend date set for June 23rd.

Scott Capital Advisors LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,792 shares of the exchange traded fund's stock after selling 515 shares during the period. Invesco QQQ makes up approximately 7.2% of Scott Capital Advisors LLC's portfolio, making the stock its 5th biggest position. Scott Capital Advisors LLC's holdings in Invesco QQQ were worth $26,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ during the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter valued at about $51,000. Blume Capital Management Inc. boosted its stake 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 valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake 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 valued at $58,000 after purchasing an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock traded down $4.39 during mid-day trading on Tuesday, reaching $597.81. 44,149,699 shares of the company traded hands, compared to its average volume of 45,618,445. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The firm's 50 day moving average price is $573.11 and its 200 day moving average price is $524.79.

Invesco QQQ Increases Dividend

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

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.