Joseph P. Lucia & Associates LLC Decreases Stock Position in Invesco QQQ $QQQ

Joseph P. Lucia & Associates LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 9,722 shares of the exchange traded fund’s stock after selling 414 shares during the quarter. Invesco QQQ makes up about 2.2% of Joseph P. Lucia & Associates LLC’s holdings, making the stock its 12th largest holding. Joseph P. Lucia & Associates LLC’s holdings in Invesco QQQ were worth $5,363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ in the second quarter valued at about $30,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ in the second quarter valued at about $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the first quarter valued at about $51,000. Finally, Blume Capital Management Inc. increased its holdings in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $603.93 on Friday. The stock’s 50-day simple moving average is $587.30 and its 200-day simple moving average is $540.73. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.5%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend 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.