Occidental Asset Management LLC Sells 38 Shares of Invesco QQQ (NASDAQ:QQQ)

Occidental Asset Management LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756 shares of the exchange traded fund’s stock after selling 38 shares during the period. Occidental Asset Management LLC’s holdings in Invesco QQQ were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QQQ. Natixis Advisors L.P. grew its position in shares of Invesco QQQ by 26.9% during the 3rd quarter. Natixis Advisors L.P. now owns 16,118 shares of the exchange traded fund’s stock valued at $5,775,000 after purchasing an additional 3,418 shares in the last quarter. Gotham Asset Management LLC grew its position in Invesco QQQ by 2.2% in the third quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock worth $1,936,000 after acquiring an additional 115 shares in the last quarter. Rehmann Capital Advisory Group grew its position in Invesco QQQ by 0.3% in the third quarter. Rehmann Capital Advisory Group now owns 21,289 shares of the exchange traded fund’s stock worth $7,627,000 after acquiring an additional 62 shares in the last quarter. First Business Financial Services Inc. grew its position in Invesco QQQ by 36.2% in the third quarter. First Business Financial Services Inc. now owns 895 shares of the exchange traded fund’s stock worth $321,000 after acquiring an additional 238 shares in the last quarter. Finally, BOS Asset Management LLC purchased a new position in Invesco QQQ in the third quarter worth $349,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.5 %

Shares of NASDAQ:QQQ opened at $479.11 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $487.20. The firm has a fifty day moving average of $454.85 and a 200 day moving average of $436.54.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be given a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%.

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.