Invesco QQQ $QQQ Shares Sold by Planned Solutions Inc.

Key Points

• Planned Solutions Inc. reduced its investment in Invesco QQQ by 30.8%, now holding 22,255 shares valued at approximately $12.3 million.
• Invesco QQQ announced an increase in its quarterly dividend to $0.694, a notable rise from the previous dividend of $0.59.
• Institutional investors and hedge funds currently own 44.58% of Invesco QQQ's stock, indicating significant interest from larger investment entities.

Planned Solutions Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 30.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,255 shares of the exchange traded fund's stock after selling 9,892 shares during the quarter. Invesco QQQ makes up about 4.7% of Planned Solutions Inc.'s investment portfolio, making the stock its 6th largest holding. Planned Solutions Inc.'s holdings in Invesco QQQ were worth $12,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Invesco QQQ during the second quarter worth approximately $30,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ in the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.7%

Shares of QQQ opened at $603.93 on Friday. The stock has a 50 day moving average of $587.30 and a 200-day moving average of $540.73. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

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

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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