Prostatis Group LLC Sells 31,917 Shares of Invesco QQQ $QQQ

Key Points

• Prostatis Group LLC sold 31,917 shares of Invesco QQQ, reducing its holdings by 47.2% in the first quarter, leaving it with 35,721 shares valued at approximately $16.75 million.
• Other hedge funds increased their stakes in Invesco QQQ, with 44.58% of the stock now owned by institutional investors.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Prostatis Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 47.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,721 shares of the exchange traded fund's stock after selling 31,917 shares during the period. Invesco QQQ comprises approximately 5.3% of Prostatis Group LLC's investment portfolio, making the stock its 3rd biggest holding. Prostatis Group LLC's holdings in Invesco QQQ were worth $16,750,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the first quarter worth about $51,000. Blume Capital Management Inc. raised its position in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after acquiring an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC lifted its holdings in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after acquiring an additional 120 shares during the period. Finally, Putney Financial Group LLC acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $67,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.5%

Shares of NASDAQ QQQ opened at $578.87 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32. The firm's 50 day simple moving average is $565.79 and its 200-day simple moving average is $518.70.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a 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.

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