Cypress Wealth Services LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Cypress Wealth Services LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,831 shares of the exchange traded fund’s stock after selling 355 shares during the period. Cypress Wealth Services LLC’s holdings in Invesco QQQ were worth $2,589,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new position in Invesco QQQ in the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ in the 4th quarter valued at $35,000. Red Tortoise LLC grew its position in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the last quarter. Friedenthal Financial acquired a new stake in Invesco QQQ in the fourth quarter valued at $41,000. Finally, Robinson Capital Management LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock remained flat at $481.61 during midday trading on Friday. The company’s stock had a trading volume of 16,936,604 shares, compared to its average volume of 40,921,012. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $487.20. The company’s fifty day simple moving average is $452.40 and its 200 day simple moving average is $435.37.

Invesco QQQ Increases Dividend

The firm also recently announced 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. 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%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57.

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.