Invesco QQQ $QQQ Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Invesco QQQ by 17.2%, selling 8,623 shares and ending with 41,381 shares valued at approximately $22.8 million.
• Invesco QQQ recently announced an increase in its quarterly dividend to $0.694, with an annualized yield of 0.5%, reflecting a rise from the previous dividend of $0.59.
• The stock is currently trading at $602.01, with a one-year range between $402.39 and $613.18.

Envestnet Portfolio Solutions Inc. cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,381 shares of the exchange traded fund's stock after selling 8,623 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Invesco QQQ were worth $22,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after buying an additional 176 shares in the last quarter. Wealth Group Ltd. grew its stake in shares of Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock valued at $3,010,000 after buying an additional 4,835 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Invesco QQQ by 19.2% in the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock valued at $1,872,000 after buying an additional 643 shares in the last quarter. Finally, HT Partners LLC grew its stake in shares of Invesco QQQ by 678.0% in the first quarter. HT Partners LLC now owns 15,280 shares of the exchange traded fund's stock valued at $7,165,000 after buying an additional 13,316 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 2.1%

QQQ stock opened at $602.01 on Tuesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The stock has a 50-day simple moving average of $584.64 and a 200-day simple moving average of $537.61.

Invesco QQQ Increases Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.