Capital Investment Counsel LLC Cuts Stock Position in Invesco QQQ $QQQ

Capital Investment Counsel LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,436 shares of the exchange traded fund’s stock after selling 321 shares during the period. Invesco QQQ comprises about 1.7% of Capital Investment Counsel LLC’s portfolio, making the stock its 15th biggest position. Capital Investment Counsel LLC’s holdings in Invesco QQQ were worth $10,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC purchased a new stake in Invesco QQQ during the second quarter worth about $30,000. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ during the second quarter worth about $41,000. Moser Wealth Advisors LLC increased its stake in Invesco QQQ by 930.0% during the second quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 93 shares during the period. Blume Capital Management Inc. increased its stake in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its stake in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $628.09 on Tuesday. The company’s 50 day moving average price is $591.63 and its 200 day moving average price is $548.87. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $628.55.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This is a positive change 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.