Invesco QQQ $QQQ Stake Lowered by Erickson Financial Group LLC

Erickson Financial Group LLC reduced its position in Invesco QQQ (NASDAQ:QQQ) by 15.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,654 shares of the exchange traded fund’s stock after selling 4,311 shares during the period. Invesco QQQ accounts for 8.8% of Erickson Financial Group LLC’s portfolio, making the stock its 4th biggest position. Erickson Financial Group LLC’s holdings in Invesco QQQ were worth $13,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Compass Financial Services Inc lifted its position in shares of 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 worth $2,345,000 after purchasing an additional 19 shares during the period. Vermillion Wealth Management Inc. raised its stake in Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after buying an additional 20 shares in the last quarter. Barrett & Company Inc. lifted its holdings in Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock worth $85,000 after buying an additional 20 shares during the period. waypoint wealth counsel boosted its position in Invesco QQQ by 0.6% during the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund’s stock valued at $1,964,000 after acquiring an additional 20 shares in the last quarter. Finally, Investment Advisory Group LLC increased its holdings in shares of Invesco QQQ by 0.4% in the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund’s stock valued at $3,158,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $590.07 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01. The stock has a fifty day moving average price of $607.15 and a 200-day moving average price of $568.52.

Invesco QQQ Increases Dividend

The company also recently announced 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. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was 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.