Ulland Investment Advisors LLC Trims Stock Position in Invesco QQQ $QQQ

Ulland Investment Advisors LLC lessened its position in Invesco QQQ (NASDAQ:QQQ) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,661 shares of the exchange traded fund’s stock after selling 2,538 shares during the quarter. Invesco QQQ accounts for approximately 4.5% of Ulland Investment Advisors LLC’s portfolio, making the stock its 6th largest holding. Ulland Investment Advisors LLC’s holdings in Invesco QQQ were worth $5,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new position in shares of Invesco QQQ during the second quarter valued at about $41,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the first quarter valued at about $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC grew its stake in shares of 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 valued at $58,000 after buying an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 3.5%

Invesco QQQ stock opened at $589.55 on Friday. The firm has a 50-day moving average of $583.89 and a 200-day moving average of $535.94. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued 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.