Arete Wealth Advisors LLC Lowers Stake in Invesco QQQ $QQQ

Key Points

• Arete Wealth Advisors LLC has reduced its holdings in Invesco QQQ by 49.4%, now owning 35,159 shares valued at approximately $16.5 million, making it their 17th largest position.
• Invesco QQQ's stock recently opened at $576.06, with a one-year range between a low of $402.39 and a high of $583.32.
• The firm declared a quarterly dividend of $0.5911, representing an annualized yield of 0.4%, reflecting ongoing shareholder returns despite market fluctuations.

Arete Wealth Advisors LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 49.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,159 shares of the exchange traded fund's stock after selling 34,306 shares during the quarter. Invesco QQQ comprises about 1.2% of Arete Wealth Advisors LLC's portfolio, making the stock its 17th biggest holding. Arete Wealth Advisors LLC's holdings in Invesco QQQ were worth $16,487,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares during the period. Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after buying an additional 120 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.3%

Invesco QQQ stock traded up $1.64 during mid-day trading on Tuesday, hitting $580.51. The company's stock had a trading volume of 43,715,098 shares, compared to its average volume of 46,346,500. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $583.32. The stock's fifty day moving average is $566.46 and its two-hundred day moving average is $519.13.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend 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.