Marshall Financial Group LLC Has $7.21 Million Position in Invesco QQQ $QQQ

Key Points

• Marshall Financial Group LLC reduced its holdings in Invesco QQQ by 53.8% in the second quarter, now owning 13,058 shares worth approximately $7,208,000.
• Several other institutional investors, including Park Capital Management LLC and Fulton Bank N.A., also adjusted their stakes in Invesco QQQ during the same period.
• Invesco QQQ's recent dividend was set at $0.5911 per share, with an annualized yield of 0.4%.

Marshall Financial Group LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 53.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,058 shares of the exchange traded fund's stock after selling 15,220 shares during the quarter. Invesco QQQ accounts for about 1.4% of Marshall Financial Group LLC's portfolio, making the stock its 14th biggest holding. Marshall Financial Group LLC's holdings in Invesco QQQ were worth $7,208,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ in the first quarter valued at approximately $51,000. Blume Capital Management Inc. grew its stake in 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 purchasing an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC grew its stake in 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 purchasing an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC bought a new position in Invesco QQQ in the fourth quarter valued at approximately $67,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.7%

QQQ stock traded up $4.03 during mid-day trading on Friday, reaching $599.35. The company had a trading volume of 58,129,765 shares, compared to its average volume of 47,115,312. The stock has a 50 day simple moving average of $572.19 and a two-hundred day simple moving average of $523.62. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $600.05.

Invesco QQQ Cuts Dividend

The firm also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.