Cedar Point Capital Partners LLC Lowers Position in Invesco QQQ $QQQ

Cedar Point Capital Partners LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 484 shares of the exchange traded fund’s stock after selling 26 shares during the quarter. Cedar Point Capital Partners LLC’s holdings in Invesco QQQ were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QQQ. Brighton Jones LLC raised its position in Invesco QQQ by 15.0% in the 4th 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 last quarter. Revolve Wealth Partners LLC increased its position in shares of Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. Wealth Group Ltd. increased its position in shares of Invesco QQQ by 305.2% during the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after purchasing an additional 4,835 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Invesco QQQ by 7.3% during the 1st quarter. Golden State Wealth Management LLC now owns 32,742 shares of the exchange traded fund’s stock valued at $15,353,000 after purchasing an additional 2,241 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of Invesco QQQ by 24.1% during the 1st quarter. WASHINGTON TRUST Co now owns 856 shares of the exchange traded fund’s stock valued at $401,000 after purchasing an additional 166 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.8%

Shares of Invesco QQQ stock opened at $632.92 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $634.68. The stock has a fifty day moving average price of $592.90 and a 200-day moving average price of $550.17.

Invesco QQQ Increases Dividend

The firm 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 dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. This is a boost 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.