Cabot Wealth Management Inc. Sells 241 Shares of Invesco QQQ $QQQ

Cabot Wealth Management Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 39.1% during the second quarter, HoldingsChannel reports. The firm owned 375 shares of the exchange traded fund’s stock after selling 241 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Invesco QQQ were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC bought a new position in shares of Invesco QQQ during the 2nd quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ in the second quarter valued at approximately $41,000. Moser Wealth Advisors LLC grew its holdings 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 valued at $57,000 after purchasing an additional 93 shares during the period. Westend Capital Management LLC bought a new position in Invesco QQQ during the first quarter valued at $51,000. Finally, Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $617.10 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $618.42. The stock’s fifty day moving average price is $590.61 and its two-hundred day moving average price is $547.17.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.