Invesco QQQ (NASDAQ:QQQ) Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837 shares of the exchange traded fund’s stock after selling 25 shares during the quarter. North Star Asset Management Inc.’s holdings in Invesco QQQ were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter valued at $30,000. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ in the first quarter valued at $29,000. Legacy Bridge LLC increased its stake in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at $35,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $448.69 on Friday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The firm’s fifty day moving average is $472.43 and its two-hundred day moving average is $456.11.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.68%.

About Invesco QQQ

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.