Novare Capital Management LLC Decreases Stock Holdings in Invesco QQQ $QQQ

Key Points

• Novare Capital Management LLC decreased its holdings in Invesco QQQ by 8.7%, owning 13,877 shares worth approximately $7.65 million after selling 1,327 shares in the second quarter.
• Invesco QQQ will pay a quarterly dividend of $0.694 per share on October 31st, up from the previous dividend of $0.59, indicating positive growth in dividend distribution.
• Shares of Invesco QQQ opened at $603.93, with a 12-month low of $402.39 and a high of $613.18, reflecting significant volatility in stock performance over the past year.

Novare Capital Management LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,877 shares of the exchange traded fund's stock after selling 1,327 shares during the quarter. Novare Capital Management LLC's holdings in Invesco QQQ were worth $7,655,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted 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 valued at $19,605,000 after purchasing an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted 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 valued at $2,687,000 after purchasing an additional 176 shares during the period. Wealth Group Ltd. boosted 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 valued at $3,010,000 after purchasing an additional 4,835 shares during the period. GAMMA Investing LLC boosted 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 valued at $1,872,000 after purchasing an additional 643 shares during the period. Finally, Compass Capital Corp MA ADV boosted its stake in shares of Invesco QQQ by 17.2% in the first quarter. Compass Capital Corp MA ADV now owns 4,652 shares of the exchange traded fund's stock valued at $2,169,000 after purchasing an additional 682 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $603.93 on Friday. The firm has a fifty day simple moving average of $587.30 and a 200-day simple moving average of $540.28. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18.

Invesco QQQ Increases Dividend

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

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.

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