Invesco QQQ $QQQ Stock Position Lowered by Elm3 Financial Group LLC

Elm3 Financial Group LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 6.9% during the second quarter, HoldingsChannel.com reports. The fund owned 7,531 shares of the exchange traded fund’s stock after selling 557 shares during the quarter. Invesco QQQ makes up approximately 3.5% of Elm3 Financial Group LLC’s investment portfolio, making the stock its 8th biggest holding. Elm3 Financial Group LLC’s holdings in Invesco QQQ were worth $4,154,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new position in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. boosted its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.5%

NASDAQ QQQ opened at $604.51 on Wednesday. The firm’s 50 day moving average price is $581.39 and its 200-day moving average price is $533.92. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $609.71.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a 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.