QRG Capital Management Inc. Cuts Position in Invesco QQQ $QQQ

QRG Capital Management Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 20.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,143 shares of the exchange traded fund’s stock after selling 2,566 shares during the quarter. QRG Capital Management Inc.’s holdings in Invesco QQQ were worth $5,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. ZWJ Investment Counsel Inc. raised its holdings in Invesco QQQ by 8.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 1,608 shares of the exchange traded fund’s stock valued at $887,000 after buying an additional 125 shares during the period. Successful Portfolios LLC raised its holdings in Invesco QQQ by 21.9% in the second quarter. Successful Portfolios LLC now owns 668 shares of the exchange traded fund’s stock valued at $368,000 after buying an additional 120 shares during the period. Grassi Investment Management raised its holdings in Invesco QQQ by 0.7% in the second quarter. Grassi Investment Management now owns 11,346 shares of the exchange traded fund’s stock valued at $6,259,000 after buying an additional 82 shares during the period. Keb Asset Management LLC raised its holdings in Invesco QQQ by 7.8% in the second quarter. Keb Asset Management LLC now owns 580 shares of the exchange traded fund’s stock valued at $320,000 after buying an additional 42 shares during the period. Finally, Consolidated Investment Group LLC raised its holdings in Invesco QQQ by 1.2% in the second quarter. Consolidated Investment Group LLC now owns 307,000 shares of the exchange traded fund’s stock valued at $169,353,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $603.18 on Monday. The company’s 50 day moving average price is $579.85 and its 200 day moving average price is $532.54. Invesco QQQ has a one year low of $402.39 and a one year high of $607.33.

Invesco QQQ Increases Dividend

The company also recently disclosed 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 is an increase 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 0.5%. 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.