Invesco QQQ $QQQ Shares Sold by Davis Investment Partners LLC

Davis Investment Partners LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,306 shares of the exchange traded fund’s stock after selling 625 shares during the quarter. Invesco QQQ comprises about 0.8% of Davis Investment Partners LLC’s investment portfolio, making the stock its 17th largest holding. Davis Investment Partners LLC’s holdings in Invesco QQQ were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares during the period. Atlantic Private Wealth LLC lifted its holdings in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in Invesco QQQ in the fourth quarter worth about $67,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4%

QQQ stock opened at $586.66 on Monday. The company has a 50-day simple moving average of $568.24 and a 200 day simple moving average of $520.68. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $587.86.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.