Silver Oak Securities Incorporated Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Silver Oak Securities Incorporated cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,251 shares of the exchange traded fund's stock after selling 575 shares during the quarter. Invesco QQQ makes up approximately 1.4% of Silver Oak Securities Incorporated's holdings, making the stock its 6th biggest position. Silver Oak Securities Incorporated's holdings in Invesco QQQ were worth $15,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ in the 4th quarter worth approximately $1,018,000. Grant Private Wealth Management Inc bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $815,000. Tandem Investment Partners LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth $4,623,000. Gemsstock Ltd. lifted its holdings in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after buying an additional 213,400 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its position in shares of Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after acquiring an additional 2,600 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.9%

QQQ opened at $555.88 on Friday. The company has a fifty day moving average of $517.86 and a 200 day moving average of $504.61. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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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