Invesco QQQ $QQQ is Trinity Wealth Management LLC's 3rd Largest Position

Key Points

• Trinity Wealth Management LLC has reduced its stake in Invesco QQQ by 5.9%, now holding 34,545 shares, which represent 7.6% of its investment portfolio, making it the firm's 3rd largest position.
• The recent quarterly dividend paid on July 31 was $0.5911 per share, translating to an annualized dividend of $2.36 and a yield of 0.4%.
• Invesco QQQ's stock has exhibited a modest increase, now priced at $599.35, with a fifty-two week low of $402.39 and a high of $600.05.

Trinity Wealth Management LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,545 shares of the exchange traded fund's stock after selling 2,178 shares during the period. Invesco QQQ makes up approximately 7.6% of Trinity Wealth Management LLC's investment portfolio, making the stock its 3rd largest position. Trinity Wealth Management LLC's holdings in Invesco QQQ were worth $19,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Compass Financial Services Inc boosted its position in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after purchasing an additional 19 shares during the period. MTM Investment Management LLC boosted its position in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares during the period. Cutler Investment Counsel LLC boosted its position in shares of Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the period. Riverbend Wealth Management LLC boosted its position in shares of Invesco QQQ by 0.3% during the 1st quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock worth $3,832,000 after purchasing an additional 22 shares during the period. Finally, Selective Wealth Management Inc. boosted its position in shares of Invesco QQQ by 0.6% during the 1st quarter. Selective Wealth Management Inc. now owns 3,814 shares of the exchange traded fund's stock worth $1,733,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.7%

NASDAQ:QQQ opened at $599.35 on Friday. The company has a 50 day moving average price of $572.19 and a 200 day moving average price of $523.77. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $600.05.

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. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.

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