Verde Capital Management Sells 894 Shares of Invesco QQQ $QQQ

Key Points

• Verde Capital Management has reduced its stake in Invesco QQQ by 5.4%, now owning 15,570 shares, valued at $8,589,000.
• Other large investors, such as Brighton Jones LLC and Pathstone Holdings LLC, have increased their holdings in Invesco QQQ, demonstrating active interest in the fund.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, resulting in an annualized yield of 0.4%.

Verde Capital Management cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,570 shares of the exchange traded fund's stock after selling 894 shares during the quarter. Invesco QQQ accounts for approximately 2.1% of Verde Capital Management's holdings, making the stock its 10th biggest position. Verde Capital Management's holdings in Invesco QQQ were worth $8,589,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the first quarter worth $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth $51,000. Blume Capital Management Inc. lifted 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 purchasing an additional 2,536 shares during the period. Atlantic Private Wealth LLC lifted its holdings in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $67,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $5.02 during midday trading on Monday, reaching $591.68. The company's stock had a trading volume of 44,232,160 shares, compared to its average volume of 45,324,832. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $591.79. The stock's 50 day simple moving average is $568.24 and its 200 day simple moving average is $520.68.

Invesco QQQ Cuts Dividend

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

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.