Blume Capital Management Inc. Sells 25 Shares of Invesco QQQ $QQQ

Blume Capital Management Inc. cut its stake in Invesco QQQ (NASDAQ:QQQ) by 20.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 96 shares of the exchange traded fund’s stock after selling 25 shares during the quarter. Blume Capital Management Inc.’s holdings in Invesco QQQ were worth $53,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smith Thornton Advisors LLC lifted its holdings in Invesco QQQ by 2.3% during the 2nd quarter. Smith Thornton Advisors LLC now owns 5,165 shares of the exchange traded fund’s stock worth $2,849,000 after purchasing an additional 114 shares in the last quarter. Pacific Sun Financial Corp increased its position in shares of Invesco QQQ by 0.8% during the second quarter. Pacific Sun Financial Corp now owns 5,946 shares of the exchange traded fund’s stock valued at $3,280,000 after buying an additional 46 shares during the period. IMG Wealth Management Inc. lifted its holdings in shares of Invesco QQQ by 3.3% in the second quarter. IMG Wealth Management Inc. now owns 12,607 shares of the exchange traded fund’s stock worth $6,955,000 after buying an additional 399 shares in the last quarter. Advantage Trust Co purchased a new stake in shares of Invesco QQQ in the second quarter worth about $165,000. Finally, Lionsbridge Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 2nd quarter valued at about $5,569,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $611.38 on Wednesday. The business has a 50-day moving average of $588.70 and a 200-day moving average of $543.16. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. 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.

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.