Invesco QQQ $QQQ Stake Cut by Kane Investment Management Inc.

Kane Investment Management Inc. lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,850 shares of the exchange traded fund’s stock after selling 1,031 shares during the quarter. Invesco QQQ makes up 1.7% of Kane Investment Management Inc.’s investment portfolio, making the stock its 8th largest position. Kane Investment Management Inc.’s holdings in Invesco QQQ were worth $3,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Compass Financial Services Inc boosted its holdings in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after purchasing an additional 19 shares during the period. Vermillion Wealth Management Inc. increased its stake in Invesco QQQ by 4.2% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after acquiring an additional 20 shares during the last quarter. Barrett & Company Inc. raised its holdings in shares of Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after acquiring an additional 20 shares in the last quarter. waypoint wealth counsel increased its position in shares of 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 purchasing an additional 20 shares during the last quarter. Finally, Investment Advisory Group LLC raised its stake 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 valued at $3,158,000 after purchasing an additional 20 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 2.0%

Shares of Invesco QQQ stock opened at $608.40 on Friday. The company has a 50 day simple moving average of $605.20 and a two-hundred day simple moving average of $563.62. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $637.01.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were issued a $0.694 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.