RFG Advisory LLC Reduces Stock Holdings in Invesco QQQ $QQQ

RFG Advisory LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 32.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,624 shares of the exchange traded fund’s stock after selling 28,249 shares during the period. Invesco QQQ makes up 0.7% of RFG Advisory LLC’s investment portfolio, making the stock its 22nd largest position. RFG Advisory LLC’s holdings in Invesco QQQ were worth $31,788,000 at the end of the most recent reporting period.

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

Invesco QQQ Price Performance

QQQ stock opened at $598.00 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18. The business has a 50 day simple moving average of $585.40 and a 200-day simple moving average of $538.03.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a dividend of $0.694 per share. 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%. The ex-dividend date of this dividend is Monday, September 22nd.

Invesco QQQ Company 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.