Capital Wealth Management LLC Cuts Stake in Invesco QQQ $QQQ

Capital Wealth Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,520 shares of the exchange traded fund’s stock after selling 133 shares during the period. Invesco QQQ accounts for about 0.3% of Capital Wealth Management LLC’s portfolio, making the stock its 26th largest position. Capital Wealth Management LLC’s holdings in Invesco QQQ were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wilkins Miller Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter worth approximately $1,018,000. Sendero Wealth Management LLC acquired a new position in Invesco QQQ in the 1st quarter worth approximately $273,000. Griffith & Werner Inc. acquired a new position in Invesco QQQ in the 4th quarter worth approximately $583,000. GSG Advisors LLC increased its holdings in Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after buying an additional 585 shares during the period. Finally, Amundi increased its holdings in Invesco QQQ by 6.3% in the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock worth $49,980,000 after buying an additional 6,600 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.1%

Shares of NASDAQ QQQ opened at $591.18 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $592.86. The firm’s 50 day simple moving average is $569.81 and its 200-day simple moving average is $521.75.

Invesco QQQ Cuts Dividend

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

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.