Invesco QQQ (NASDAQ:QQQ) Stake Cut by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 51.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 866 shares of the exchange traded fund’s stock after selling 910 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Invesco QQQ were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Global Assets Advisory LLC bought a new position in Invesco QQQ during the first quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised its holdings in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock worth $1,219,115,000 after acquiring an additional 64,401 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Invesco QQQ by 10.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock worth $1,073,929,000 after purchasing an additional 206,608 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.7 %

Shares of Invesco QQQ stock opened at $448.69 on Friday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The stock has a 50 day moving average price of $472.43 and a two-hundred day moving average price of $456.11.

Invesco QQQ Increases Dividend

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