Westwood Holdings Group Inc. Cuts Position in Invesco QQQ $QQQ

Westwood Holdings Group Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,625 shares of the exchange traded fund’s stock after selling 1,984 shares during the period. Westwood Holdings Group Inc.’s holdings in Invesco QQQ were worth $19,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. Kestra Investment Management LLC grew its stake in Invesco QQQ by 14.0% in the 2nd quarter. Kestra Investment Management LLC now owns 3,887 shares of the exchange traded fund’s stock valued at $2,144,000 after purchasing an additional 476 shares during the period. Johns Hopkins University raised its stake in shares of Invesco QQQ by 22.3% during the 2nd quarter. Johns Hopkins University now owns 258,537 shares of the exchange traded fund’s stock worth $142,619,000 after purchasing an additional 47,155 shares during the period. Front Row Advisors LLC boosted its holdings in shares of Invesco QQQ by 6.5% in the 2nd quarter. Front Row Advisors LLC now owns 3,833 shares of the exchange traded fund’s stock worth $2,117,000 after buying an additional 233 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its position in Invesco QQQ by 4.0% during the second quarter. Parr Mcknight Wealth Management Group LLC now owns 1,420 shares of the exchange traded fund’s stock valued at $783,000 after buying an additional 55 shares during the period. Finally, Strategic Investment Advisors MI grew its position in Invesco QQQ by 2.3% during the second quarter. Strategic Investment Advisors MI now owns 936 shares of the exchange traded fund’s stock valued at $517,000 after buying an additional 21 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.9%

Shares of QQQ stock opened at $613.62 on Monday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01. The firm’s 50-day simple moving average is $613.64 and its two-hundred day simple moving average is $581.01.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were issued a $0.694 dividend. 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. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%.

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.