Revolve Wealth Partners LLC Cuts Position in Invesco QQQ $QQQ

Key Points

• Revolve Wealth Partners LLC has reduced its holdings in Invesco QQQ by 10.6%, owning 4,520 shares worth approximately $2,494,000.
• The firm has announced a quarterly dividend of $0.694, up from $0.59, with an annualized yield of 0.5% to be paid on October 31st.
• Invesco QQQ's stock price opened at $598.00, with a 52-week trading range of $402.39 to $613.18.

Revolve Wealth Partners LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,520 shares of the exchange traded fund's stock after selling 534 shares during the quarter. Revolve Wealth Partners LLC's holdings in Invesco QQQ were worth $2,494,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ in the 2nd quarter worth about $41,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the 1st quarter valued at about $51,000. Blume Capital Management Inc. grew its stake in Invesco QQQ by 105.0% in the 1st 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 during the last quarter. Finally, Atlantic Private Wealth LLC grew its stake in Invesco QQQ by 3,000.0% in the 1st 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 last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $598.00 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18. The company's 50-day moving average price is $585.40 and its 200 day moving average price is $538.03.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. 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. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ 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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