TCM Advisors LLC Lowers Stake in Invesco QQQ $QQQ

Key Points

• TCM Advisors LLC reduced its stake in Invesco QQQ by 1.8% in the first quarter, holding 63,701 shares valued at approximately $29.87 million.
• Other institutional investors have also recently adjusted their positions in Invesco QQQ, with 44.58% of the stock now owned by hedge funds and other funds.
• Invesco QQQ declared a quarterly dividend of $0.5911, representing an annualized dividend yield of 0.4%.

TCM Advisors LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,701 shares of the exchange traded fund's stock after selling 1,199 shares during the quarter. Invesco QQQ accounts for about 2.8% of TCM Advisors LLC's holdings, making the stock its 3rd largest position. TCM Advisors LLC's holdings in Invesco QQQ were worth $29,871,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Eagle Capital Management LLC lifted its position in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares in the last quarter. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% during the fourth 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 increased its stake in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $610,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.0%

Shares of QQQ stock opened at $570.4560 on Tuesday. The business's fifty day simple moving average is $558.65 and its 200-day simple moving average is $515.97. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

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 paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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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