SP Asset Management LLC Decreases Position in Invesco QQQ $QQQ

SP Asset Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,924 shares of the exchange traded fund’s stock after selling 611 shares during the quarter. SP Asset Management LLC’s holdings in Invesco QQQ were worth $2,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its stake in Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ in the 1st quarter worth approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ opened at $623.28 on Thursday. The company’s 50 day simple moving average is $599.86 and its two-hundred day simple moving average is $557.61. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were paid a $0.694 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%.

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.