RFG Advisory LLC Cuts Stock Position in Invesco QQQ $QQQ

Key Points

• RFG Advisory LLC has reduced its stake in Invesco QQQ by 32.9% during the second quarter, now holding 57,624 shares valued at approximately $31.8 million.
• Invesco QQQ has declared a dividend increase, with the upcoming quarterly payment of $0.694 per share, up from the previous $0.59.
• The stock opened at $598.00 and has a fifty-two week range between $402.39 and $613.18, indicating significant volatility in its performance.

RFG Advisory LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,624 shares of the exchange traded fund's stock after selling 28,249 shares during the period. Invesco QQQ comprises about 0.7% of RFG Advisory LLC's portfolio, making the stock its 22nd biggest position. RFG Advisory LLC's holdings in Invesco QQQ were worth $31,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Blume Capital Management Inc. increased its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its stake in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after buying an additional 120 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

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

Invesco QQQ Increases Dividend

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