LJI Wealth Management LLC Sells 1,819 Shares of Invesco QQQ $QQQ

Key Points

• LJI Wealth Management LLC reduced its stake in Invesco QQQ by 6.5%, selling 1,819 shares and holding 26,049 shares valued at approximately $14.37 million at the end of the second quarter.
• Other institutional investors have increased their stakes, with Brighton Jones LLC raising its investment by 15%, acquiring 4,989 additional shares during the same period.
• Invesco QQQ has increased its quarterly dividend to $0.694 per share, reflecting a positive change from the previous $0.59 dividend.

LJI Wealth Management LLC cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,049 shares of the exchange traded fund's stock after selling 1,819 shares during the period. Invesco QQQ accounts for about 2.5% of LJI Wealth Management LLC's investment portfolio, making the stock its 10th biggest position. LJI Wealth Management LLC's holdings in Invesco QQQ were worth $14,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Wealth Group Ltd. raised its stake in shares of Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after acquiring an additional 4,835 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 19.2% in the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after acquiring an additional 643 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Invesco QQQ by 1.1% in the first quarter. GHP Investment Advisors Inc. now owns 3,270 shares of the exchange traded fund's stock worth $1,533,000 after acquiring an additional 37 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $610.58 on Friday. The firm has a 50 day simple moving average of $589.82 and a 200 day simple moving average of $544.88. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

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

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.