Northern Capital Management Inc. Sells 867 Shares of Invesco QQQ $QQQ

Key Points

• Northern Capital Management Inc. has reduced its holdings in Invesco QQQ by 1.5%, selling 867 shares to hold 57,800 shares, which constitutes approximately 18.8% of its portfolio.
• Kingstone Capital Partners Texas LLC significantly increased its position in Invesco QQQ by 704,593.7%, adding over 67.6 million shares to its holdings during the second quarter.
• Invesco QQQ announced an increase in its quarterly dividend to $0.694 per share, up from $0.59 previously, with a dividend yield of 0.5%.

Northern Capital Management Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,800 shares of the exchange traded fund's stock after selling 867 shares during the quarter. Invesco QQQ accounts for approximately 18.8% of Northern Capital Management Inc.'s holdings, making the stock its 2nd biggest holding. Northern Capital Management Inc.'s holdings in Invesco QQQ were worth $31,885,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Kingstone Capital Partners Texas LLC increased its position in shares of Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ opened at $603.93 on Friday. The company has a 50-day moving average of $587.30 and a 200-day moving average of $540.73. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a $0.694 dividend. 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. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

About Invesco QQQ

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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