Invesco QQQ (NASDAQ:QQQ) Shares Sold by MGO One Seven LLC

Key Points

• MGO One Seven LLC has reduced its stake in Invesco QQQ by 3.0%, now holding 25,568 shares valued at approximately $11.99 million.
• Other institutional investors have significantly increased their holdings in Invesco QQQ, with Ameriprise Financial raising its stake by 20.2% and Price T Rowe Associates by 34.8%.
• The latest quarterly dividend from Invesco QQQ is set at $0.5911, representing an annualized dividend yield of 0.42%.

MGO One Seven LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,568 shares of the exchange traded fund's stock after selling 794 shares during the period. MGO One Seven LLC's holdings in Invesco QQQ were worth $11,989,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.0%

QQQ stock traded down $11.13 during midday trading on Friday, hitting $553.88. The stock had a trading volume of 69,290,965 shares, compared to its average volume of 44,970,789. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $574.63. The company's 50-day moving average price is $543.12 and its 200 day moving average price is $510.39.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis 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.