Invesco QQQ $QQQ Shares Sold by RFG Holdings Inc.

Key Points

• RFG Holdings Inc. has reduced its stake in Invesco QQQ by 2.8%, holding 82,210 shares valued at approximately $45.35 million.
• Several large investors increased their positions in Invesco QQQ during the second quarter, with 44.58% of the stock currently owned by institutional investors and hedge funds.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, representing a yield of 0.4%.

RFG Holdings Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,210 shares of the exchange traded fund's stock after selling 2,365 shares during the quarter. Invesco QQQ comprises about 13.1% of RFG Holdings Inc.'s investment portfolio, making the stock its 2nd largest holding. RFG Holdings Inc.'s holdings in Invesco QQQ were worth $45,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Compass Financial Services Inc grew its position in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after acquiring an additional 19 shares during the period. MTM Investment Management LLC raised its holdings in Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after buying an additional 21 shares during the last quarter. Cutler Investment Counsel LLC grew its position in Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after buying an additional 21 shares during the period. Mosaic Family Wealth Partners LLC boosted its position in shares of Invesco QQQ by 1.6% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after acquiring an additional 22 shares during the last quarter. Finally, Riverbend Wealth Management LLC raised its stake in Invesco QQQ by 0.3% during the first quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock valued at $3,832,000 after purchasing an additional 22 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7%

Invesco QQQ stock traded up $4.03 during midday trading on Friday, hitting $599.35. 58,129,765 shares of the company's stock were exchanged, compared to its average volume of 47,115,312. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $600.05. The firm has a 50-day moving average of $572.19 and a two-hundred day moving average of $523.77.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

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.