Congress Wealth Management LLC DE Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Congress Wealth Management LLC DE reduced its position in Invesco QQQ (NASDAQ:QQQ) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,219 shares of the exchange traded fund’s stock after selling 1,313 shares during the period. Congress Wealth Management LLC DE’s holdings in Invesco QQQ were worth $4,094,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QQQ. Gotham Asset Management LLC boosted its holdings in shares of Invesco QQQ by 2.2% in the 3rd quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock worth $1,936,000 after purchasing an additional 115 shares during the period. Lazard Asset Management LLC raised its stake in shares of Invesco QQQ by 46.2% in the third quarter. Lazard Asset Management LLC now owns 16,155 shares of the exchange traded fund’s stock valued at $5,787,000 after acquiring an additional 5,105 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 6.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock worth $1,530,696,000 after acquiring an additional 243,305 shares during the last quarter. Ellerson Group Inc. ADV grew its holdings in Invesco QQQ by 0.5% during the 3rd quarter. Ellerson Group Inc. ADV now owns 7,749 shares of the exchange traded fund’s stock valued at $2,776,000 after purchasing an additional 39 shares during the last quarter. Finally, Elevatus Welath Management raised its position in Invesco QQQ by 120.5% in the 3rd quarter. Elevatus Welath Management now owns 1,951 shares of the exchange traded fund’s stock worth $699,000 after purchasing an additional 1,066 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.6 %

Shares of QQQ traded up $2.81 during trading hours on Monday, reaching $481.92. 24,794,379 shares of the company traded hands, compared to its average volume of 40,935,367. The stock’s fifty day moving average price is $454.85 and its 200 day moving average price is $436.77. 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 dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, June 24th.

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.