Tandem Investment Partners LLC Sells 2,776 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Tandem Investment Partners LLC reduced its holdings in Invesco QQQ by 30.7%, selling 2,776 shares and holding a total of 6,267 shares, valued at approximately $2.9 million.
• Shares of Invesco QQQ are currently down 2.0%, with a 1-year range between $402.39 and $574.63.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, resulting in a 0.4% yield.

Tandem Investment Partners LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 30.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,267 shares of the exchange traded fund's stock after selling 2,776 shares during the period. Invesco QQQ makes up 2.9% of Tandem Investment Partners LLC's portfolio, making the stock its 11th largest holding. Tandem Investment Partners LLC's holdings in Invesco QQQ were worth $2,939,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the fourth quarter worth $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter valued at $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.0%

Shares of QQQ stock opened at $553.88 on Friday. The stock's 50-day moving average is $544.01 and its 200 day moving average is $510.69. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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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