Samalin Investment Counsel LLC Cuts Stock Position in Invesco QQQ $QQQ

Samalin Investment Counsel LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.7% in the second quarter, Holdings Channel reports. The firm owned 4,496 shares of the exchange traded fund’s stock after selling 428 shares during the period. Invesco QQQ accounts for 0.9% of Samalin Investment Counsel LLC’s investment portfolio, making the stock its 22nd largest holding. Samalin Investment Counsel LLC’s holdings in Invesco QQQ were worth $2,480,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QQQ. Ibex Wealth Advisors boosted its holdings in shares of Invesco QQQ by 1.0% in the 2nd quarter. Ibex Wealth Advisors now owns 13,041 shares of the exchange traded fund’s stock worth $7,194,000 after buying an additional 130 shares during the last quarter. Laffer Tengler Investments Inc. purchased a new stake in Invesco QQQ during the second quarter worth about $995,000. Vise Technologies Inc. bought a new stake in Invesco QQQ in the second quarter worth about $3,300,000. Cahill Financial Advisors Inc. grew its position in shares of Invesco QQQ by 1.0% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 5,171 shares of the exchange traded fund’s stock valued at $2,853,000 after acquiring an additional 53 shares during the period. Finally, Alpha Cubed Investments LLC increased its stake in shares of Invesco QQQ by 7.8% during the 2nd quarter. Alpha Cubed Investments LLC now owns 24,775 shares of the exchange traded fund’s stock worth $13,667,000 after purchasing an additional 1,782 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.3%

NASDAQ:QQQ opened at $609.74 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01. The firm’s 50 day moving average is $601.34 and its 200 day moving average is $560.76.

Invesco QQQ Increases Dividend

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

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.