KFG Wealth Management LLC Sells 7,556 Shares of Invesco QQQ $QQQ

Key Points

• KFG Wealth Management LLC reduced its holdings in Invesco QQQ by 29.9%, selling 7,556 shares in the second quarter, leaving them with 17,724 shares worth approximately $9.78 million.
• Invesco QQQ recently announced a quarterly dividend of $0.694, an increase from the previous dividend of $0.59, reflecting continued recognition of its financial performance.
• Shares of Invesco QQQ opened at $599.35, with a one-year trading range between $402.39 and $600.05, demonstrating significant growth potential.

KFG Wealth Management LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,724 shares of the exchange traded fund's stock after selling 7,556 shares during the quarter. Invesco QQQ accounts for 1.6% of KFG Wealth Management LLC's investment portfolio, making the stock its 13th largest position. KFG Wealth Management LLC's holdings in Invesco QQQ were worth $9,777,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the second quarter worth $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. raised its stake in shares of 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 buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC raised its stake in shares of 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 buying an additional 120 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $599.35 on Monday. The stock's fifty day moving average price is $572.19 and its two-hundred day moving average price is $524.01. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $600.05.

Invesco QQQ Increases Dividend

The company 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 is Monday, September 22nd. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend 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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