Invesco QQQ $QQQ Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 17.2% in the second quarter, Holdings Channel.com reports. The firm owned 41,381 shares of the exchange traded fund’s stock after selling 8,623 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Invesco QQQ were worth $22,828,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in Invesco QQQ during the 2nd quarter valued at approximately $41,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the 1st quarter valued at approximately $51,000. Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its position in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 2.1%

Shares of QQQ opened at $602.01 on Tuesday. The stock has a 50 day moving average of $584.64 and a 200-day moving average of $537.61. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

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

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.