Invesco QQQ (NASDAQ:QQQ) Shares Sold by Weaver Consulting Group

Weaver Consulting Group cut its stake in Invesco QQQ (NASDAQ:QQQ) by 3.4% in the first quarter, Holdings Channel reports. The fund owned 3,166 shares of the exchange traded fund’s stock after selling 112 shares during the period. Weaver Consulting Group’s holdings in Invesco QQQ were worth $1,406,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of QQQ. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $29,000. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Red Tortoise LLC lifted its stake in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares in the last quarter. Robinson Capital Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter worth $40,000. Finally, Friedenthal Financial acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded down $2.50 during trading on Friday, hitting $479.11. The stock had a trading volume of 34,881,581 shares, compared to its average volume of 28,583,126. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $487.20. The firm has a 50 day moving average price of $454.85 and a 200 day moving average price of $436.27.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be paid a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%. The ex-dividend date is Monday, June 24th.

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.