Westside Investment Management Inc. Cuts Stock Holdings in Invesco QQQ $QQQ

Westside Investment Management Inc. lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 6.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 31,009 shares of the exchange traded fund’s stock after selling 2,092 shares during the quarter. Invesco QQQ makes up approximately 3.2% of Westside Investment Management Inc.’s portfolio, making the stock its 4th largest holding. Westside Investment Management Inc.’s holdings in Invesco QQQ were worth $17,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares during the last quarter. Wealth Group Ltd. boosted its holdings in shares of Invesco QQQ by 305.2% during the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after buying an additional 4,835 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Invesco QQQ by 62.6% during the 1st quarter. Principal Financial Group Inc. now owns 46,119 shares of the exchange traded fund’s stock worth $21,626,000 after buying an additional 17,750 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Invesco QQQ by 7.7% in the 1st quarter. Bank of New York Mellon Corp now owns 99,906 shares of the exchange traded fund’s stock valued at $46,848,000 after buying an additional 7,147 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5%

Shares of QQQ opened at $629.07 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01. The company’s fifty day moving average price is $596.70 and its 200 day moving average price is $554.59.

Invesco QQQ Increases Dividend

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

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.