Invesco QQQ $QQQ Shares Sold by Dogwood Wealth Management LLC

Key Points

• Dogwood Wealth Management LLC dramatically reduced its holdings in Invesco QQQ by 95.9% in the second quarter, ending with only 661 shares after selling 15,291 shares.
• Invesco QQQ recently declared a quarterly dividend of $0.694, an increase from the previous $0.59, with a dividend yield of 0.5%.
• Despite institutional selling, 44.58% of QQQ shares are still owned by institutional investors and hedge funds, highlighting ongoing interest in this exchange-traded fund.

Dogwood Wealth Management LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 95.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 661 shares of the exchange traded fund's stock after selling 15,291 shares during the quarter. Dogwood Wealth Management LLC's holdings in Invesco QQQ were worth $365,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Marshall & Sullivan Inc. WA acquired a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ during the 1st quarter worth $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the first quarter worth $51,000. Blume Capital Management Inc. lifted its stake in Invesco QQQ by 105.0% in the first 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 last quarter. Finally, Atlantic Private Wealth LLC boosted its holdings in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 120 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

QQQ stock opened at $603.25 on Thursday. The firm's 50-day simple moving average is $578.30 and its 200 day simple moving average is $530.08. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $603.79.

Invesco QQQ Increases Dividend

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

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.

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