Silver Oak Securities Incorporated Has $10.42 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Silver Oak Securities Incorporated reduced its stake in Invesco QQQ by 41.5% during the second quarter, bringing its holdings to $10.42 million.
• Invesco QQQ's stock has experienced a minor increase of 0.7%, with its 52-week range between $402.39 and $600.05.
• The fund declared a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Silver Oak Securities Incorporated trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 41.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,880 shares of the exchange traded fund's stock after selling 13,371 shares during the period. Invesco QQQ comprises about 0.8% of Silver Oak Securities Incorporated's holdings, making the stock its 25th biggest holding. Silver Oak Securities Incorporated's holdings in Invesco QQQ were worth $10,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ during the second quarter valued at $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Blume Capital Management Inc. boosted its holdings 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 purchasing an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC boosted its holdings 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 purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.3%

QQQ stock traded down $1.91 during midday trading on Tuesday, reaching $600.29. The company had a trading volume of 26,512,088 shares, compared to its average volume of 45,522,160. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87. The company has a 50 day moving average of $573.11 and a two-hundred day moving average of $524.79.

Invesco QQQ Increases Dividend

The company also recently announced 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 represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.