NorthRock Partners LLC Reduces Holdings in Invesco QQQ $QQQ

Key Points

• NorthRock Partners LLC has reduced its holdings in Invesco QQQ by 2.3%, owning 20,943 shares worth $11,553,000 after selling 491 shares in the second quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.694, an increase from the previous $0.59, representing an annual yield of 0.5%.
• The stock price of Invesco QQQ has experienced a significant increase, opening at $602.01 with a 12-month high of $613.18.

NorthRock Partners LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,943 shares of the exchange traded fund's stock after selling 491 shares during the period. NorthRock Partners LLC's holdings in Invesco QQQ were worth $11,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Compass Financial Services Inc increased its stake in shares of Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after buying an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. boosted its holdings in Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after purchasing an additional 20 shares during the period. Barrett & Company Inc. boosted its holdings in Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock worth $85,000 after purchasing an additional 20 shares during the period. Investment Advisory Group LLC boosted its holdings in Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock worth $3,158,000 after purchasing an additional 20 shares during the period. Finally, waypoint wealth counsel boosted its holdings in Invesco QQQ by 0.6% in the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock worth $1,964,000 after purchasing an additional 20 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 2.1%

Invesco QQQ stock opened at $602.01 on Tuesday. The company has a fifty day moving average price of $584.64 and a two-hundred day moving average price of $537.61. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a $0.694 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd.

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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