Tanager Wealth Management LLP Sells 856 Shares of Invesco QQQ $QQQ

Key Points

• Tanager Wealth Management LLP reduced its stake in Invesco QQQ by 29.3%, selling 856 shares during the second quarter, leaving it with a total of 2,068 shares.
• Invesco QQQ experienced a dividend increase to $0.694 per share, up from the previous $0.59, with the next payment scheduled for October 31st.
• Over 44.58% of Invesco QQQ's stock is currently held by institutional investors and hedge funds, indicating strong institutional interest in the fund.

Tanager Wealth Management LLP trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 29.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,068 shares of the exchange traded fund's stock after selling 856 shares during the period. Tanager Wealth Management LLP's holdings in Invesco QQQ were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QQQ. Brighton Jones LLC lifted its position in Invesco QQQ by 15.0% during the 4th 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 during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. Apella Capital LLC increased its stake in shares of Invesco QQQ by 7.1% in the first quarter. Apella Capital LLC now owns 4,074 shares of the exchange traded fund's stock worth $1,898,000 after purchasing an additional 269 shares during the period. Sendero Wealth Management LLC acquired a new position in shares of Invesco QQQ during the 1st quarter worth about $273,000. Finally, Portside Wealth Group LLC lifted its position in shares of Invesco QQQ by 18.9% during the 1st quarter. Portside Wealth Group LLC now owns 1,695 shares of the exchange traded fund's stock worth $867,000 after purchasing an additional 269 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.4%

QQQ opened at $605.73 on Friday. The stock's 50 day moving average price is $579.12 and its two-hundred day moving average price is $530.93. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $607.16.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date 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 0.5%.

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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