Tyche Wealth Partners LLC Cuts Holdings in Invesco QQQ $QQQ

Key Points

• Tyche Wealth Partners LLC has reduced its holdings in Invesco QQQ by 11.9%, now owning 18,907 shares worth approximately $10.43 million at the end of the last quarter.
• Invesco QQQ will pay a quarterly dividend of $0.694 per share on October 31st, increasing from its previous dividend of $0.59, resulting in an annualized yield of 0.5%.
• Major institutional investors, including Kingstone Capital and Goldman Sachs, have significantly increased their stakes in Invesco QQQ during the second quarter, reflecting strong interest in the fund.

Tyche Wealth Partners LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,907 shares of the exchange traded fund's stock after selling 2,546 shares during the period. Invesco QQQ makes up 2.1% of Tyche Wealth Partners LLC's investment portfolio, making the stock its 10th largest holding. Tyche Wealth Partners LLC's holdings in Invesco QQQ were worth $10,430,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QQQ. Kingstone Capital Partners Texas LLC lifted its stake 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 valued at $37,299,340,000 after acquiring an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Invesco QQQ by 959.6% during 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 acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in Invesco QQQ during the 1st quarter valued at $2,775,904,000. Spear Holdings RSC Ltd bought a new position in Invesco QQQ during the 1st quarter valued at $474,600,000. Finally, Altimeter Capital Management LP bought a new position in Invesco QQQ during the 1st quarter valued at $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $604.51 on Wednesday. The stock's fifty day simple moving average is $581.39 and its two-hundred day simple moving average is $533.92. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $609.71.

Invesco QQQ Increases Dividend

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

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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