Appleton Partners Inc. MA Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Appleton Partners Inc. MA reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,594 shares of the exchange traded fund’s stock after selling 42 shares during the quarter. Appleton Partners Inc. MA’s holdings in Invesco QQQ were worth $1,243,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ in the first quarter valued at approximately $28,000. Deane Retirement Strategies Inc. acquired a new stake in Invesco QQQ in the first quarter valued at approximately $29,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% in the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Finally, Red Tortoise LLC grew its holdings in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.4 %

QQQ traded down $10.91 during trading on Friday, hitting $448.75. The company’s stock had a trading volume of 66,323,244 shares, compared to its average volume of 39,428,968. The business’s fifty day simple moving average is $475.15 and its 200 day simple moving average is $449.47. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This represents a $3.05 annualized dividend 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.