Smart Portfolios LLC Lowers Position in Invesco QQQ $QQQ

Smart Portfolios LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 3.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,684 shares of the exchange traded fund’s stock after selling 118 shares during the quarter. Invesco QQQ accounts for approximately 2.1% of Smart Portfolios LLC’s portfolio, making the stock its 12th biggest position. Smart Portfolios LLC’s holdings in Invesco QQQ were worth $2,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of QQQ. Compass Financial Services Inc boosted its stake in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after purchasing an additional 19 shares during the period. Vermillion Wealth Management Inc. boosted its stake in Invesco QQQ by 4.2% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after purchasing an additional 20 shares during the period. Barrett & Company Inc. boosted its stake in Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after purchasing an additional 20 shares during the period. Investment Advisory Group LLC boosted its stake in Invesco QQQ by 0.4% in the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock worth $3,158,000 after purchasing an additional 20 shares during the period. Finally, waypoint wealth counsel boosted its stake in Invesco QQQ by 0.6% in the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock worth $1,964,000 after purchasing an additional 20 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7%

NASDAQ:QQQ opened at $602.22 on Thursday. The business’s 50-day moving average price is $586.10 and its two-hundred day moving average price is $538.48. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18.

Invesco QQQ Increases Dividend

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

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.