Invesco QQQ $QQQ Stake Cut by Hill Island Financial LLC

Hill Island Financial LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,500 shares of the exchange traded fund’s stock after selling 71 shares during the quarter. Invesco QQQ makes up 1.6% of Hill Island Financial LLC’s investment portfolio, making the stock its 12th largest holding. Hill Island Financial LLC’s holdings in Invesco QQQ were worth $5,792,000 as of its most recent SEC filing.

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

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $603.18 on Monday. The stock’s 50 day moving average price is $579.85 and its 200 day moving average price is $532.54. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $607.33.

Invesco QQQ Increases Dividend

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