Stephens Consulting LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Stephens Consulting LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 5.9% during the 1st quarter, Holdings Channel reports. The firm owned 11,051 shares of the exchange traded fund’s stock after selling 699 shares during the quarter. Invesco QQQ comprises 1.5% of Stephens Consulting LLC’s investment portfolio, making the stock its 13th biggest holding. Stephens Consulting LLC’s holdings in Invesco QQQ were worth $4,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of QQQ. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ during the 1st quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Red Tortoise LLC lifted its holdings in shares of Invesco QQQ by 370.0% during the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares during the period. Robinson Capital Management LLC acquired a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $40,000. Finally, Friedenthal Financial purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $41,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.5 %

NASDAQ:QQQ opened at $479.11 on Monday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20. The firm’s 50 day moving average is $454.85 and its two-hundred day moving average is $436.77.

Invesco QQQ Increases Dividend

The company 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. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, June 24th.

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.