JNBA Financial Advisors Sells 24 Shares of Invesco QQQ $QQQ

JNBA Financial Advisors reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,289 shares of the exchange traded fund’s stock after selling 24 shares during the quarter. JNBA Financial Advisors’ holdings in Invesco QQQ were worth $711,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QQQ. Kingstone Capital Partners Texas LLC raised its stake in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after buying an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the first quarter valued at $2,775,904,000. Spear Holdings RSC Ltd bought a new stake in shares of Invesco QQQ in the first quarter valued at $474,600,000. Finally, Altimeter Capital Management LP bought a new stake in shares of Invesco QQQ in the first quarter valued at $463,293,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $589.55 on Friday. The stock’s fifty day moving average price is $583.89 and its two-hundred day moving average price is $536.30. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18.

Invesco QQQ Increases Dividend

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

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.