Dale Q Rice Investment Management Ltd Lowers Stake in Invesco QQQ $QQQ

Dale Q Rice Investment Management Ltd decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 48.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,361 shares of the exchange traded fund’s stock after selling 14,388 shares during the period. Invesco QQQ comprises approximately 7.2% of Dale Q Rice Investment Management Ltd’s holdings, making the stock its 4th biggest position. Dale Q Rice Investment Management Ltd’s holdings in Invesco QQQ were worth $8,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Compass Financial Services Inc increased its position in Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after buying an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. increased its position in Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after buying an additional 20 shares in the last quarter. Barrett & Company Inc. increased its position in Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after buying an additional 20 shares in the last quarter. waypoint wealth counsel increased its position in Invesco QQQ by 0.6% in the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock worth $1,964,000 after buying an additional 20 shares in the last quarter. Finally, Investment Advisory Group LLC increased its position in Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock worth $3,158,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $603.93 on Friday. The business has a 50-day simple moving average of $587.30 and a two-hundred day simple moving average of $540.28. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd.

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.