Invesco QQQ $QQQ Shares Sold by Pacific Financial Group Inc.

Key Points

• Pacific Financial Group Inc. reduced its stake in Invesco QQQ by 11.0%, holding 25,746 shares after selling 3,191 shares, making it the firm's second largest position.
• Invesco QQQ's share price opened at $603.18, with a fifty-two week range of $402.39 to $607.33.
• The company announced an increase in its quarterly dividend to $0.694 per share, up from the previous $0.59, resulting in an annual yield of 0.5%.

Pacific Financial Group Inc. reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,746 shares of the exchange traded fund's stock after selling 3,191 shares during the period. Invesco QQQ comprises about 11.1% of Pacific Financial Group Inc.'s holdings, making the stock its 2nd largest position. Pacific Financial Group Inc.'s holdings in Invesco QQQ were worth $14,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its stake in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after buying an additional 54,944 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.4%

Shares of NASDAQ:QQQ opened at $603.18 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $607.33. The business has a 50-day moving average of $579.85 and a two-hundred day moving average of $531.81.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This is an increase 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 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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