SVB Wealth LLC Sells 11,255 Shares of Invesco QQQ $QQQ

SVB Wealth LLC reduced its position in Invesco QQQ (NASDAQ:QQQ) by 55.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,127 shares of the exchange traded fund’s stock after selling 11,255 shares during the quarter. SVB Wealth LLC’s holdings in Invesco QQQ were worth $5,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. GSG Advisors LLC grew its stake in Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after buying an additional 585 shares during the last quarter. Amundi raised its stake in Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock valued at $49,980,000 after buying an additional 6,600 shares during the last quarter. BCGM Wealth Management LLC boosted its holdings in Invesco QQQ by 13.6% in the second quarter. BCGM Wealth Management LLC now owns 25,597 shares of the exchange traded fund’s stock worth $14,120,000 after acquiring an additional 3,066 shares in the last quarter. Saiph Capital LLC grew its stake in shares of Invesco QQQ by 23.8% during the first quarter. Saiph Capital LLC now owns 2,610 shares of the exchange traded fund’s stock worth $1,224,000 after acquiring an additional 502 shares during the last quarter. Finally, Prospect Financial Services LLC increased its holdings in shares of Invesco QQQ by 9.1% during the second quarter. Prospect Financial Services LLC now owns 11,765 shares of the exchange traded fund’s stock valued at $6,490,000 after acquiring an additional 986 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.4%

Shares of Invesco QQQ stock opened at $625.48 on Monday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01. The company has a 50 day moving average price of $611.54 and a 200 day moving average price of $577.18.

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 paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 22nd. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.