Sage Mountain Advisors LLC Lowers Stock Position in Invesco QQQ $QQQ

Key Points

• Sage Mountain Advisors LLC decreased its stake in Invesco QQQ by 17.1%, now holding 11,943 shares valued at approximately $6.59 million.
• Invesco QQQ's quarterly dividend has been increased to $0.694, up from $0.59, representing an annualized yield of 0.4%.
• The current stock price of Invesco QQQ is $617.10, with a 12-month price range between $402.39 and $618.42.

Sage Mountain Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,943 shares of the exchange traded fund's stock after selling 2,457 shares during the quarter. Sage Mountain Advisors LLC's holdings in Invesco QQQ were worth $6,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares in the last quarter. Wealth Group Ltd. raised its stake in shares of Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after acquiring an additional 4,835 shares in the last quarter. GAMMA Investing LLC boosted its position in Invesco QQQ by 19.2% during the 1st quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock valued at $1,872,000 after buying an additional 643 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in Invesco QQQ in the 1st quarter worth $50,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $617.10 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $618.42. The company's fifty day simple moving average is $590.61 and its two-hundred day simple moving average is $546.26.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a $0.694 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%.

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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