Ranch Capital Advisors Inc. Cuts Stock Holdings in Invesco QQQ $QQQ

Ranch Capital Advisors Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,512 shares of the exchange traded fund’s stock after selling 161 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Invesco QQQ were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of QQQ. Brighton Jones LLC grew its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC grew its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after buying an additional 176 shares during the period. Wealth Group Ltd. grew its position in Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after buying an additional 4,835 shares during the period. GAMMA Investing LLC grew its position in Invesco QQQ by 19.2% during the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund’s stock valued at $1,872,000 after buying an additional 643 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in Invesco QQQ during the first quarter valued at about $50,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $617.10 on Friday. The firm has a 50-day moving average of $590.61 and a 200 day moving average of $546.26. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $618.42.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.4%.

Invesco QQQ 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.