River Street Advisors LLC Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

River Street Advisors LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 45.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 655 shares of the exchange traded fund’s stock after selling 544 shares during the quarter. River Street Advisors LLC’s holdings in Invesco QQQ were worth $291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atwater Malick LLC purchased a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $293,000. Bank Hapoalim BM boosted its stake in shares of Invesco QQQ by 6.3% during the 4th quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock valued at $31,669,000 after buying an additional 4,549 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Invesco QQQ by 29.7% during the 4th quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock valued at $1,848,000 after buying an additional 1,033 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Invesco QQQ by 6.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after buying an additional 243,305 shares during the last quarter. Finally, GenWealth Group Inc. boosted its stake in shares of Invesco QQQ by 5.8% during the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after buying an additional 2,325 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded down $2.50 during trading hours on Friday, hitting $479.11. 34,881,581 shares of the stock were exchanged, compared to its average volume of 28,583,126. The stock has a 50-day simple moving average of $454.85 and a 200-day simple moving average of $436.54. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $487.20.

Invesco QQQ Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.64%.

Invesco QQQ 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.