Invesco QQQ $QQQ Shares Sold by Lodestar Private Asset Management LLC

Key Points

• Lodestar Private Asset Management LLC reduced its stake in Invesco QQQ by 2.2%, owning 70,130 shares valued at approximately $38.69 million after the sale.
• Institutional investors hold 44.58% of Invesco QQQ, with various firms recording new acquisitions, including Marshall & Sullivan Inc. and Alpine Bank Wealth Management.
• Invesco QQQ increased its quarterly dividend to $0.694, a rise from the previous quarter's $0.59, reflecting a positive change in yield for shareholders.

Lodestar Private Asset Management LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,130 shares of the exchange traded fund's stock after selling 1,556 shares during the period. Invesco QQQ makes up approximately 4.5% of Lodestar Private Asset Management LLC's investment portfolio, making the stock its 2nd largest holding. Lodestar Private Asset Management LLC's holdings in Invesco QQQ were worth $38,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the second quarter valued at about $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at about $51,000. Blume Capital Management Inc. grew 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 acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC grew its stake in Invesco QQQ by 3,000.0% in 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 Price Performance

NASDAQ:QQQ opened at $589.55 on Monday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The stock has a 50-day moving average price of $583.89 and a two-hundred day moving average price of $536.68.

Invesco QQQ Increases Dividend

The firm also recently announced 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 of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a 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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