Wetzel Investment Advisors Inc. Trims Stake in Invesco QQQ $QQQ

Wetzel Investment Advisors Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,656 shares of the exchange traded fund’s stock after selling 29 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Invesco QQQ were worth $914,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Sendero Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $273,000. GSG Advisors LLC increased its position in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock valued at $3,600,000 after buying an additional 585 shares in the last quarter. Amundi increased its position in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock valued at $49,980,000 after buying an additional 6,600 shares in the last quarter. Orser Capital Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $566,000. Finally, Jackson Wealth Management LLC increased its position in shares of Invesco QQQ by 8.6% in the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock valued at $9,428,000 after buying an additional 1,586 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $600.37 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $602.87. The business has a 50 day simple moving average of $577.51 and a 200-day simple moving average of $529.57.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is 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.