Sumitomo Mitsui Trust Group Inc. Sells 35,226 Shares of Invesco QQQ $QQQ

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its stake in Invesco QQQ by 7.7% during the 2nd quarter, now holding 419,351 shares valued at approximately $231 million.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, reflecting a positive change from the previous dividend of $0.59, which results in an annualized dividend yield of 0.4%.
• Shares of Invesco QQQ are currently trading around $617.10, with a 1-year high of $618.42 and a 1-year low of $402.39.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 419,351 shares of the exchange traded fund's stock after selling 35,226 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.07% of Invesco QQQ worth $231,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Compass Financial Services Inc boosted its stake in shares of Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. boosted its holdings in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock valued at $271,000 after acquiring an additional 20 shares during the period. Barrett & Company Inc. boosted its holdings in Invesco QQQ by 14.9% during the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock valued at $85,000 after acquiring an additional 20 shares during the period. Investment Advisory Group LLC boosted its holdings in Invesco QQQ by 0.4% during the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock valued at $3,158,000 after acquiring an additional 20 shares during the period. Finally, waypoint wealth counsel boosted its holdings in Invesco QQQ by 0.6% during the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock valued at $1,964,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $617.10 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $618.42. The business has a 50-day moving average of $590.61 and a 200 day moving average of $546.26.

Invesco QQQ Increases Dividend

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

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.

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