Invesco QQQ $QQQ Position Reduced by Madrona Financial Services LLC

Key Points

• Madrona Financial Services LLC has reduced its position in Invesco QQQ by 0.6%, now holding 74,863 shares valued at approximately $41.3 million.
• Invesco QQQ recently increased its quarterly dividend to $0.694 per share, marking a rise from the previous dividend of $0.59.
• Shares of Invesco QQQ opened at $603.25, with a 1-year price range between $402.39 and $603.79.

Madrona Financial Services LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,863 shares of the exchange traded fund's stock after selling 439 shares during the period. Invesco QQQ accounts for about 9.9% of Madrona Financial Services LLC's investment portfolio, making the stock its 2nd biggest position. Madrona Financial Services LLC's holdings in Invesco QQQ were worth $41,297,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of Invesco QQQ by 704,593.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new stake in Invesco QQQ during the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after acquiring an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after acquiring an additional 54,944 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.5%

Shares of QQQ stock opened at $603.25 on Thursday. The stock's 50-day moving average is $578.30 and its 200 day moving average is $530.08. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $603.79.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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.

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