Invesco QQQ $QQQ Shares Sold by Global Wealth Management LLC

Key Points

• Global Wealth Management LLC reduced its holdings in Invesco QQQ by 3.7%, owning 11,820 shares after selling 451 shares, which represents a worth of approximately $6.57 million.
• Invesco QQQ's recent quarterly dividend was announced at $0.694 per share, up from the previous dividend of $0.59, offering a 0.5% yield.
• The share price of Invesco QQQ opened at $593.53, with a 12-month range between $402.39 and $602.87.

Global Wealth Management LLC cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,820 shares of the exchange traded fund's stock after selling 451 shares during the quarter. Invesco QQQ accounts for 3.6% of Global Wealth Management LLC's holdings, making the stock its 10th largest holding. Global Wealth Management LLC's holdings in Invesco QQQ were worth $6,574,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of Invesco QQQ in the second quarter valued at $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter worth $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter worth $51,000. Blume Capital Management Inc. grew its stake in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its stake in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $593.53 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $602.87. The business has a fifty day moving average price of $575.35 and a 200 day moving average price of $526.62.

Invesco QQQ Increases Dividend

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

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

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.