Royal Fund Management LLC Trims Position in Invesco QQQ $QQQ

Royal Fund Management LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 48.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,487 shares of the exchange traded fund’s stock after selling 26,292 shares during the period. Invesco QQQ comprises about 1.6% of Royal Fund Management LLC’s holdings, making the stock its 10th largest holding. Royal Fund Management LLC’s holdings in Invesco QQQ were worth $15,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of QQQ. Kingstone Capital Partners Texas LLC lifted its position in Invesco QQQ by 704,593.7% in the second 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 purchasing an additional 67,605,770 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Invesco QQQ by 42.4% in the second quarter. JPMorgan Chase & Co. now owns 4,895,265 shares of the exchange traded fund’s stock worth $2,700,424,000 after purchasing an additional 1,457,109 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco QQQ by 0.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,223,327 shares of the exchange traded fund’s stock worth $1,778,116,000 after buying an additional 22,220 shares during the period. Symphony Financial Ltd. Co. bought a new stake in Invesco QQQ during the 2nd quarter valued at $1,236,482,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Invesco QQQ by 6.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,101,906 shares of the exchange traded fund’s stock worth $611,049,000 after acquiring an additional 65,387 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $622.94 on Friday. The firm’s 50-day moving average price is $610.95 and its two-hundred day moving average price is $575.62. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $637.01.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd.

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.