Invesco QQQ $QQQ Shares Sold by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp has reduced its stake in Invesco QQQ by 10.9%, selling 710 shares to hold a total of 5,776 shares valued at approximately $3,186,000.
• Institutional investors now own 44.58% of Invesco QQQ, with significant stakes acquired by firms such as Kingstone Capital Partners and Goldman Sachs.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Toth Financial Advisory Corp cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,776 shares of the exchange traded fund's stock after selling 710 shares during the period. Toth Financial Advisory Corp's holdings in Invesco QQQ were worth $3,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QQQ. Marshall & Sullivan Inc. WA acquired a new stake in Invesco QQQ in the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the 1st quarter valued at $51,000. Blume Capital Management Inc. grew its holdings in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after buying an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $4.64 during mid-day trading on Tuesday, reaching $597.56. The stock had a trading volume of 47,670,792 shares, compared to its average volume of 45,639,152. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87. The business has a 50 day simple moving average of $573.11 and a 200 day simple moving average of $524.79.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

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.