Invesco QQQ (NASDAQ:QQQ) Stock Holdings Reduced by Tandem Financial LLC

Key Points

• Tandem Financial LLC reduced its stake in Invesco QQQ by 12.5%, now owning 8,225 shares valued at approximately $3.86 million, making it the 8th largest holding in their investment portfolio.
• Other institutional investors have also been active, with multiple firms acquiring new positions in Invesco QQQ, contributing to a total of 44.58% of the company's stock held by hedge funds and institutional investors.
• Invesco QQQ has announced a quarterly dividend of $0.5911 per share, which will be paid on July 31st, reflecting an annualized dividend yield of 0.42%.

Tandem Financial LLC lessened its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,225 shares of the exchange traded fund's stock after selling 1,178 shares during the period. Invesco QQQ comprises 4.2% of Tandem Financial LLC's portfolio, making the stock its 8th largest holding. Tandem Financial LLC's holdings in Invesco QQQ were worth $3,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Natixis Advisors LLC increased its stake in shares of Invesco QQQ by 3.9% in the first quarter. Natixis Advisors LLC now owns 31,115 shares of the exchange traded fund's stock worth $14,590,000 after purchasing an additional 1,176 shares in the last quarter. NorthRock Partners LLC lifted its position in Invesco QQQ by 1.4% during the first quarter. NorthRock Partners LLC now owns 21,434 shares of the exchange traded fund's stock valued at $10,051,000 after purchasing an additional 306 shares during the last quarter. SSA Swiss Advisors AG bought a new position in Invesco QQQ during the first quarter valued at $796,000. Modera Wealth Management LLC grew its holdings in Invesco QQQ by 9.4% during the 1st quarter. Modera Wealth Management LLC now owns 14,501 shares of the exchange traded fund's stock valued at $6,800,000 after purchasing an additional 1,248 shares during the last quarter. Finally, SlateStone Wealth LLC grew its holdings in Invesco QQQ by 9.2% during the 1st quarter. SlateStone Wealth LLC now owns 6,046 shares of the exchange traded fund's stock valued at $2,835,000 after purchasing an additional 507 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded down $11.13 during mid-day trading on Friday, hitting $553.88. 69,249,870 shares of the stock traded hands, compared to its average volume of 44,967,387. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $574.63. The firm's 50 day moving average is $543.12 and its two-hundred day moving average is $510.39.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a 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.