Invesco QQQ (NASDAQ:QQQ) Stock Position Trimmed by Spectrum Wealth Advisory Group LLC

Spectrum Wealth Advisory Group LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,314 shares of the exchange traded fund’s stock after selling 528 shares during the quarter. Invesco QQQ comprises 33.9% of Spectrum Wealth Advisory Group LLC’s holdings, making the stock its largest position. Spectrum Wealth Advisory Group LLC’s holdings in Invesco QQQ were worth $29,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Cullinan Associates Inc. acquired a new stake in Invesco QQQ during the 1st quarter worth about $329,000. Iams Wealth Management LLC boosted its stake in shares of Invesco QQQ by 48.2% in the first quarter. Iams Wealth Management LLC now owns 13,938 shares of the exchange traded fund’s stock worth $6,067,000 after buying an additional 4,534 shares during the last quarter. Panoramic Investment Advisors LLC grew its holdings in Invesco QQQ by 1.9% during the first quarter. Panoramic Investment Advisors LLC now owns 5,369 shares of the exchange traded fund’s stock worth $2,384,000 after acquiring an additional 99 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Invesco QQQ during the first quarter valued at approximately $39,478,000. Finally, Stordahl Capital Management Inc. lifted its holdings in Invesco QQQ by 4.3% in the first quarter. Stordahl Capital Management Inc. now owns 1,681 shares of the exchange traded fund’s stock valued at $746,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.0 %

Shares of NASDAQ QQQ opened at $486.98 on Wednesday. The firm’s 50 day simple moving average is $456.11 and its 200-day simple moving average is $437.32. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $487.20.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.63%.

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.