Reliant Investment Partners LLC Sells 5,658 Shares of Invesco QQQ $QQQ

Reliant Investment Partners LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 72.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,142 shares of the exchange traded fund’s stock after selling 5,658 shares during the quarter. Invesco QQQ makes up 1.0% of Reliant Investment Partners LLC’s investment portfolio, making the stock its 20th largest position. Reliant Investment Partners LLC’s holdings in Invesco QQQ were worth $1,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its position in shares of Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its holdings in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ in the 1st quarter worth approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.8%

Invesco QQQ stock opened at $628.09 on Tuesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $628.55. The firm’s fifty day moving average price is $591.63 and its 200-day moving average price is $548.87.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.