Blue Bell Private Wealth Management LLC Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Blue Bell Private Wealth Management LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,841 shares of the exchange traded fund’s stock after selling 106 shares during the quarter. Invesco QQQ accounts for about 0.7% of Blue Bell Private Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Blue Bell Private Wealth Management LLC’s holdings in Invesco QQQ were worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Legacy Bridge LLC grew its position in shares of Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in Invesco QQQ during the 4th quarter valued at about $35,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $461.04 on Friday. The firm’s 50-day simple moving average is $473.04 and its two-hundred day simple moving average is $455.79. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were given a dividend of $0.7615 per share. This represents a $3.05 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Monday, June 24th. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.