Greenwood Capital Associates LLC Trims Stock Position in Invesco QQQ $QQQ

Greenwood Capital Associates LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,501 shares of the exchange traded fund’s stock after selling 213 shares during the period. Greenwood Capital Associates LLC’s holdings in Invesco QQQ were worth $4,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QQQ. Kingstone Capital Partners Texas LLC lifted its stake in shares of Invesco QQQ by 704,593.7% in the 2nd 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 purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its holdings in Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco QQQ by 1.7% during 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 acquiring 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 acquiring an additional 54,944 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $603.18 on Friday. The stock’s 50-day moving average price is $579.85 and its 200-day moving average price is $531.81. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $607.33.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company 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.