Tanglewood Wealth Management Inc. Trims Position in Invesco QQQ $QQQ

Key Points

• Tanglewood Wealth Management Inc. reduced its holdings in Invesco QQQ by 0.6%, owning 79,758 shares valued at approximately $44 million, marking it as the fund's 9th largest position.
• A significant increase in investment was seen from Kingstone Capital Partners, which grew its stake in Invesco QQQ by an astounding 704,593.7% during the second quarter.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, higher than the previous dividend of $0.59, indicating a positive trend in dividend payouts.

Tanglewood Wealth Management Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,758 shares of the exchange traded fund's stock after selling 482 shares during the quarter. Invesco QQQ accounts for about 4.3% of Tanglewood Wealth Management Inc.'s portfolio, making the stock its 9th largest position. Tanglewood Wealth Management Inc.'s holdings in Invesco QQQ were worth $43,998,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC grew its holdings in Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock worth $37,299,340,000 after acquiring an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock valued at $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the first quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its stake in Invesco QQQ by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after acquiring an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after acquiring an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $603.18 on Friday. The company's fifty day moving average price is $579.85 and its two-hundred day moving average price is $532.17. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $607.33.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. 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 yield of 0.5%.

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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