Smith Chas P & Associates PA Cpas Decreases Stock Position in Invesco QQQ $QQQ

Key Points

• Smith Chas P & Associates PA Cpas has reduced its stake in Invesco QQQ by 0.8%, holding 83,664 shares valued at approximately $46.15 million.
• The firm announced an increase in its dividend to $0.694 per share, which represents a yield of 0.5% and will be paid on October 31st.
• Several other institutional investors, including Atlantic Private Wealth LLC, significantly increased their positions in Invesco QQQ during recent quarters.

Smith Chas P & Associates PA Cpas lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,664 shares of the exchange traded fund's stock after selling 650 shares during the quarter. Invesco QQQ comprises 2.6% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 11th largest position. Smith Chas P & Associates PA Cpas' holdings in Invesco QQQ were worth $46,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the second quarter worth approximately $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter worth approximately $51,000. Blume Capital Management Inc. lifted its position in 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 in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in 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 in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.5%

Shares of Invesco QQQ stock opened at $598.73 on Tuesday. The business's 50 day moving average price is $576.73 and its 200 day moving average price is $529.07. Invesco QQQ has a one year low of $402.39 and a one year high of $602.87.

Invesco QQQ Increases Dividend

The firm 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 dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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