Private Advisory Group LLC reduced its holdings in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 56.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,457 shares of the exchange traded fund’s stock after selling 4,427 shares during the period. Private Advisory Group LLC’s holdings in Invesco QQQ Trust were worth $646,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Ellis Investment Partners LLC boosted its stake in Invesco QQQ Trust by 17,883.3% in the 1st quarter. Ellis Investment Partners LLC now owns 6,329,777 shares of the exchange traded fund’s stock worth $6,329,000 after purchasing an additional 6,294,579 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Invesco QQQ Trust by 19,082.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,919,517 shares of the exchange traded fund’s stock valued at $591,952,000 after acquiring an additional 5,888,658 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Invesco QQQ Trust during the 1st quarter valued at approximately $596,218,000. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco QQQ Trust by 2.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,919,483 shares of the exchange traded fund’s stock valued at $344,869,000 after acquiring an additional 49,503 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Invesco QQQ Trust by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 1,472,356 shares of the exchange traded fund’s stock valued at $274,947,000 after acquiring an additional 36,633 shares during the period. 41.21% of the stock is owned by institutional investors and hedge funds.
NASDAQ QQQ traded down $6.22 on Monday, hitting $181.13. 4,920,452 shares of the company’s stock traded hands, compared to its average volume of 24,630,070. Invesco QQQ Trust has a 1-year low of $143.46 and a 1-year high of $195.55. The stock’s 50-day moving average price is $190.19.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, June 25th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, June 24th.
Invesco QQQ Trust 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.
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