Invesco QQQ $QQQ Stake Lessened by Samalin Investment Counsel LLC

Key Points

• Samalin Investment Counsel LLC reduced its stake in Invesco QQQ by 9.3%, now holding 4,924 shares valued at approximately $2,309,000.
• New purchases of Invesco QQQ shares were made by various institutional investors, with notable investments including $51,000 from Westend Capital Management LLC and an acquisition by Blume Capital Management Inc. increasing its stake by 105.0%.
• Invesco QQQ's current stock price is $570.32, with a recent quarterly dividend of $0.5911 paid to stockholders.

Samalin Investment Counsel LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,924 shares of the exchange traded fund's stock after selling 506 shares during the period. Invesco QQQ comprises 0.9% of Samalin Investment Counsel LLC's investment portfolio, making the stock its 20th largest position. Samalin Investment Counsel LLC's holdings in Invesco QQQ were worth $2,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $1,018,000. Sentinus LLC raised its stake in shares of Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after purchasing an additional 970 shares during the period. Sendero Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter valued at approximately $273,000. Cary Street Partners Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $10,052,000. Finally, Baird Financial Group Inc. raised its stake in shares of Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock valued at $167,394,000 after purchasing an additional 12,627 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.2%

Shares of QQQ traded up $0.88 during mid-day trading on Wednesday, reaching $573.49. 36,686,193 shares of the stock traded hands, compared to its average volume of 46,663,848. The stock has a fifty day simple moving average of $560.41 and a 200 day simple moving average of $516.76. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

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

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.