Narus Financial Partners LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Narus Financial Partners LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 856 shares of the exchange traded fund’s stock after selling 197 shares during the period. Narus Financial Partners LLC’s holdings in Invesco QQQ were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atwater Malick LLC acquired a new position in Invesco QQQ in the first quarter valued at approximately $293,000. Westwood Holdings Group Inc. grew its stake in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. Aviance Capital Partners LLC increased its holdings in Invesco QQQ by 29.7% in the fourth quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock valued at $1,848,000 after buying an additional 1,033 shares in the last quarter. GenWealth Group Inc. raised its holdings in Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after purchasing an additional 2,325 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of Invesco QQQ by 1.7% during the 4th quarter. Fiera Capital Corp now owns 656,835 shares of the exchange traded fund’s stock worth $268,987,000 after buying an additional 11,013 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded up $0.58 during trading hours on Friday, reaching $475.00. 30,476,320 shares of the company were exchanged, compared to its average volume of 40,981,977. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock’s 50-day moving average is $474.12 and its 200-day moving average is $451.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a $0.7615 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

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.