GK Wealth Management LLC Sells 62 Shares of Invesco QQQ $QQQ

GK Wealth Management LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 586 shares of the exchange traded fund’s stock after selling 62 shares during the quarter. GK Wealth Management LLC’s holdings in Invesco QQQ were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in QQQ. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% in the first 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 during the period. Atlantic Private Wealth LLC increased its position in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in Invesco QQQ in the fourth quarter worth about $67,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.4%

Shares of QQQ stock opened at $586.66 on Monday. The stock has a 50-day moving average price of $568.24 and a 200 day moving average price of $520.68. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $587.86.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.