Williams & Novak LLC Reduces Holdings in Invesco QQQ $QQQ

Williams & Novak LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,393 shares of the exchange traded fund’s stock after selling 359 shares during the quarter. Invesco QQQ makes up 1.1% of Williams & Novak LLC’s investment portfolio, making the stock its 21st largest position. Williams & Novak LLC’s holdings in Invesco QQQ were worth $1,320,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth about $51,000. Blume Capital Management Inc. grew its holdings in shares of Invesco QQQ by 105.0% during 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 in the last quarter. Finally, Atlantic Private Wealth LLC grew its holdings in shares of Invesco QQQ by 3,000.0% during 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 in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 3.5%

Shares of NASDAQ QQQ opened at $589.55 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The company has a 50-day simple moving average of $583.89 and a 200-day simple moving average of $536.30.

Invesco QQQ Increases Dividend

The company 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 dividend on an annualized basis 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.

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.