Diversified Portfolios Inc. Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Diversified Portfolios Inc. cut its stake in Invesco QQQ (NASDAQ:QQQ) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the exchange traded fund’s stock after selling 22 shares during the quarter. Diversified Portfolios Inc.’s holdings in Invesco QQQ were worth $1,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prospect Financial Services LLC increased its stake in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Sweeney & Michel LLC grew its holdings in Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 22 shares during the last quarter. Summit X LLC increased its position in Invesco QQQ by 0.4% in the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after buying an additional 24 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares during the last quarter. Finally, Second Line Capital LLC boosted its position in shares of Invesco QQQ by 2.6% in the first quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock valued at $422,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5 %

Shares of Invesco QQQ stock traded up $2.24 during midday trading on Wednesday, hitting $482.50. The company had a trading volume of 25,411,801 shares, compared to its average volume of 40,755,074. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The business’s 50 day simple moving average is $475.10 and its two-hundred day simple moving average is $452.93.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. This represents a $3.05 annualized dividend and a yield of 0.63%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was 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.