Lake Street Financial LLC lessened its stake in Invesco QQQ Trust (NASDAQ:QQQ) by 11.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,100 shares of the exchange traded fund’s stock after selling 3,035 shares during the quarter. Invesco QQQ Trust comprises 2.1% of Lake Street Financial LLC’s portfolio, making the stock its 8th largest holding. Lake Street Financial LLC’s holdings in Invesco QQQ Trust were worth $8,191,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC lifted its stake in Invesco QQQ Trust by 56.4% during the first quarter. Ridgewood Investments LLC now owns 3,379 shares of the exchange traded fund’s stock worth $1,078,000 after purchasing an additional 1,218 shares during the last quarter. Clearstead Advisors LLC lifted its stake in Invesco QQQ Trust by 3.1% during the first quarter. Clearstead Advisors LLC now owns 160,126 shares of the exchange traded fund’s stock worth $51,101,000 after purchasing an additional 4,833 shares during the last quarter. Kwmg LLC lifted its stake in Invesco QQQ Trust by 8.4% during the first quarter. Kwmg LLC now owns 36,313 shares of the exchange traded fund’s stock worth $11,589,000 after purchasing an additional 2,805 shares during the last quarter. Benedict Financial Advisors Inc. purchased a new stake in Invesco QQQ Trust during the first quarter worth approximately $2,049,000. Finally, West Financial Advisors LLC lifted its stake in Invesco QQQ Trust by 1.7% during the first quarter. West Financial Advisors LLC now owns 44,548 shares of the exchange traded fund’s stock worth $14,217,000 after purchasing an additional 744 shares during the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.
NASDAQ QQQ traded up $0.16 on Monday, reaching $364.73. The stock had a trading volume of 1,025,790 shares, compared to its average volume of 43,660,184. Invesco QQQ Trust has a 12-month low of $260.11 and a 12-month high of $368.89. The company’s 50-day moving average is $349.95.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 22nd were paid a $0.397 dividend. The ex-dividend date of this dividend was Monday, June 21st. This represents a $1.59 dividend on an annualized basis and a yield of 0.44%. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.40.
About Invesco QQQ Trust
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.
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