Weaver Capital Management LLC Sells 61 Shares of Invesco QQQ (NASDAQ:QQQ)

Weaver Capital Management LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533 shares of the exchange traded fund’s stock after selling 61 shares during the quarter. Weaver Capital Management LLC’s holdings in Invesco QQQ were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ in the 1st quarter worth about $28,000. Deane Retirement Strategies Inc. purchased a new position in Invesco QQQ during the 1st quarter worth $29,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the 2nd quarter worth $30,000. Legacy Bridge LLC raised its position in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth $35,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $460.61 on Thursday. The stock’s fifty day moving average price is $473.45 and its 200-day moving average price is $455.75. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a dividend yield of 0.66%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

Invesco QQQ 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.