Tandem Wealth Advisors LLC Trims Stock Holdings in Invesco QQQ $QQQ

Key Points

• Tandem Wealth Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 3.3%, making it the firm's 9th largest position in their portfolio, worth approximately $8.1 million.
• Several institutional investors, including Blume Capital Management Inc., have recently increased their positions in Invesco QQQ, highlighting ongoing interest in the exchange traded fund.
• Invesco QQQ has experienced a price range over the past year, with a low of $402.39 and a high of $583.32, reflecting notable volatility in its trading performance.

Tandem Wealth Advisors LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,323 shares of the exchange traded fund's stock after selling 590 shares during the quarter. Invesco QQQ accounts for about 4.2% of Tandem Wealth Advisors LLC's portfolio, making the stock its 9th largest position. Tandem Wealth Advisors LLC's holdings in Invesco QQQ were worth $8,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter worth approximately $51,000. Banque Transatlantique SA bought a new stake in Invesco QQQ during the 4th quarter worth approximately $57,000. Finally, Blume Capital Management Inc. grew its holdings 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 acquiring an additional 2,536 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.2%

QQQ traded up $0.88 during trading on Wednesday, reaching $573.49. 36,533,550 shares of the company's stock were exchanged, compared to its average volume of 44,854,281. Invesco QQQ has a one year low of $402.39 and a one year high of $583.32. The firm has a fifty day moving average price of $559.52 and a two-hundred day moving average price of $516.36.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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.