Invesco QQQ $QQQ is Ulland Investment Advisors LLC’s 6th Largest Position

Ulland Investment Advisors LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 19.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,661 shares of the exchange traded fund’s stock after selling 2,538 shares during the quarter. Invesco QQQ comprises 4.5% of Ulland Investment Advisors LLC’s holdings, making the stock its 6th largest holding. Ulland Investment Advisors LLC’s holdings in Invesco QQQ were worth $5,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QQQ. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the second quarter worth about $41,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC lifted its holdings in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 120 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 3.5%

QQQ stock opened at $589.55 on Friday. The firm has a 50 day moving average price of $583.89 and a 200-day moving average price of $535.94. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

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.