Intelligence Driven Advisers LLC Sells 152 Shares of Invesco QQQ (NASDAQ:QQQ)

Intelligence Driven Advisers LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 7.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,988 shares of the exchange traded fund’s stock after selling 152 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Invesco QQQ were worth $953,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Hanlon Investment Management Inc. purchased a new position in shares of Invesco QQQ in the second quarter worth $263,000. Patron Partners LLC raised its stake in shares of Invesco QQQ by 18.4% in the second quarter. Patron Partners LLC now owns 2,460 shares of the exchange traded fund’s stock worth $1,179,000 after purchasing an additional 382 shares during the last quarter. Valtinson Bruner Financial Planning LLC raised its stake in shares of Invesco QQQ by 0.6% in the second quarter. Valtinson Bruner Financial Planning LLC now owns 4,179 shares of the exchange traded fund’s stock worth $2,002,000 after purchasing an additional 26 shares during the last quarter. Gentry Private Wealth LLC purchased a new position in shares of Invesco QQQ in the second quarter worth $2,049,000. Finally, Advisor OS LLC raised its stake in shares of Invesco QQQ by 16.9% in the second quarter. Advisor OS LLC now owns 5,580 shares of the exchange traded fund’s stock worth $2,673,000 after purchasing an additional 806 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.7 %

Invesco QQQ stock traded down $12.35 during mid-day trading on Friday, reaching $448.69. 50,624,385 shares of the stock traded hands, compared to its average volume of 40,492,672. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The business’s 50-day moving average is $472.43 and its 200-day moving average is $455.91.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a dividend of $0.7615 per share. This represents a $3.05 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.