Blue Bell Private Wealth Management LLC Sells 106 Shares of Invesco QQQ (NASDAQ:QQQ)

Blue Bell Private Wealth Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,841 shares of the exchange traded fund’s stock after selling 106 shares during the period. Invesco QQQ makes up 0.7% of Blue Bell Private Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Blue Bell Private Wealth Management LLC’s holdings in Invesco QQQ were worth $3,277,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter worth approximately $28,000. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ in the first quarter worth approximately $29,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the second quarter worth approximately $30,000. Legacy Bridge LLC raised its stake in Invesco QQQ by 800.0% during the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Finally, Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at $35,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $461.04 on Friday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock’s fifty day moving average price is $473.04 and its 200-day moving average price is $455.79.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. This represents a $3.05 annualized dividend and a yield of 0.66%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

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.