Platt Investment Counsel LLC Cuts Stake in Invesco QQQ $QQQ

Key Points

• Platt Investment Counsel LLC reduced its holdings in Invesco QQQ by 1.7%, selling 660 shares and owning 39,039 shares as of the last reporting period.
• Invesco QQQ accounts for 20.5% of Platt Investment Counsel LLC's investment portfolio, making it their second largest position, worth approximately $21.5 million.
• Invesco QQQ's stock has experienced significant fluctuations, with a 1-year low of $402.39 and a high of $587.86, and currently trades at $586.66.

Platt Investment Counsel LLC lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,039 shares of the exchange traded fund's stock after selling 660 shares during the period. Invesco QQQ accounts for 20.5% of Platt Investment Counsel LLC's investment portfolio, making the stock its 2nd biggest position. Platt Investment Counsel LLC's holdings in Invesco QQQ were worth $21,536,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $51,000. Blume Capital Management Inc. boosted its stake in shares of Invesco QQQ by 105.0% during the 1st 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 boosted its stake in shares of Invesco QQQ by 3,000.0% during the 1st 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 stake in shares of Invesco QQQ during the 4th quarter valued at about $67,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.4%

Shares of QQQ opened at $586.66 on Friday. The firm's 50-day moving average price is $568.24 and its 200-day moving average price is $520.54. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $587.86.

Invesco QQQ Cuts Dividend

The business 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. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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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