Vivid Wealth Management LLC Reduces Position in Invesco QQQ $QQQ

Key Points

• Vivid Wealth Management LLC reduced its position in Invesco QQQ by 17.0% in the second quarter, owning 30,416 shares after selling 6,223 shares. This ETF represents approximately 7.4% of the firm's portfolio.
• Invesco QQQ recently increased its quarterly dividend to $0.694 per share, up from $0.59, resulting in an annualized yield of 0.5% for shareholders.
• Institutional investors currently hold 44.58% of Invesco QQQ stock, indicating significant interest from other firms in this exchange-traded fund.

Vivid Wealth Management LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 17.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,416 shares of the exchange traded fund's stock after selling 6,223 shares during the quarter. Invesco QQQ makes up approximately 7.4% of Vivid Wealth Management LLC's portfolio, making the stock its 2nd largest holding. Vivid Wealth Management LLC's holdings in Invesco QQQ were worth $16,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of QQQ. Marshall & Sullivan Inc. WA acquired a new stake in shares of Invesco QQQ in the second quarter worth $41,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ in the first quarter worth $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ in the first quarter worth $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC grew its stake 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 worth $58,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $589.55 on Friday. The company's fifty day simple moving average is $583.89 and its 200-day simple moving average is $535.94. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18.

Invesco QQQ Increases Dividend

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

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.

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