Diversified Portfolios Inc. Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Diversified Portfolios Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the first quarter worth $28,000. Deane Retirement Strategies Inc. acquired a new position in Invesco QQQ during the 1st quarter worth about $29,000. Legacy Bridge LLC boosted its holdings in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at about $35,000. Finally, Robinson Capital Management LLC acquired a new position in Invesco QQQ in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.5 %

Shares of QQQ traded up $2.24 during mid-day trading on Wednesday, hitting $482.50. 25,411,801 shares of the company’s stock were exchanged, compared to its average volume of 40,755,074. The stock’s 50-day moving average is $475.10 and its 200-day moving average is $452.93. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company 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.