Robertson Stephens Wealth Management LLC Sells 1,678 Shares of Invesco QQQ $QQQ

Robertson Stephens Wealth Management LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,662 shares of the exchange traded fund’s stock after selling 1,678 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Invesco QQQ were worth $19,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Compass Financial Services Inc lifted its stake in Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after purchasing an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. increased its holdings in shares of Invesco QQQ by 4.2% during the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after buying an additional 20 shares in the last quarter. Barrett & Company Inc. increased its holdings in shares of Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after buying an additional 20 shares in the last quarter. MTM Investment Management LLC increased its holdings in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after buying an additional 21 shares in the last quarter. Finally, Cutler Investment Counsel LLC increased its holdings in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after buying an additional 21 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 3.5%

Shares of NASDAQ:QQQ opened at $589.55 on Friday. The company has a fifty day moving average of $583.89 and a 200-day moving average of $536.30. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18.

Invesco QQQ Increases Dividend

The business also recently declared 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. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.