LS Investment Advisors LLC Sells 54 Shares of Invesco QQQ (NASDAQ:QQQ)

LS Investment Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676 shares of the exchange traded fund’s stock after selling 54 shares during the quarter. LS Investment Advisors LLC’s holdings in Invesco QQQ were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in QQQ. International Assets Investment Management LLC increased its stake in shares of Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the period. Global Assets Advisory LLC purchased a new position in Invesco QQQ during the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Invesco QQQ by 7.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after purchasing an additional 162,691 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Invesco QQQ by 10.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,241,509 shares of the exchange traded fund’s stock valued at $1,073,929,000 after buying an additional 206,608 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.3 %

Shares of NASDAQ QQQ traded up $1.42 during mid-day trading on Tuesday, hitting $476.76. 27,278,434 shares of the stock traded hands, compared to its average volume of 40,546,648. The stock has a fifty day moving average price of $474.89 and a 200-day moving average price of $454.07. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were paid a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.64%. This is a positive change 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.