Paulson Wealth Management Inc. Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

Paulson Wealth Management Inc. cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,686 shares of the exchange traded fund’s stock after selling 720 shares during the quarter. Invesco QQQ makes up 1.9% of Paulson Wealth Management Inc.’s investment portfolio, making the stock its 13th largest position. Paulson Wealth Management Inc.’s holdings in Invesco QQQ were worth $6,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the first quarter worth about $28,000. Deane Retirement Strategies Inc. purchased 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. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Finally, Robinson Capital Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded down $4.66 during trading on Monday, reaching $475.34. The company had a trading volume of 27,240,232 shares, compared to its average volume of 40,626,258. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The stock’s 50 day moving average price is $475.08 and its two-hundred day moving average price is $453.77.

Invesco QQQ Increases Dividend

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

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.