Parallel Advisors LLC Sells 1,827 Shares of Invesco QQQ (NASDAQ:QQQ)

Parallel Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,472 shares of the exchange traded fund’s stock after selling 1,827 shares during the quarter. Invesco QQQ makes up approximately 0.5% of Parallel Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Parallel Advisors LLC’s holdings in Invesco QQQ were worth $21,307,000 as of its most recent filing with the SEC.

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

Invesco QQQ Trading Up 0.4 %

Invesco QQQ stock opened at $475.34 on Friday. The firm’s 50 day moving average price is $470.09 and its 200-day moving average price is $457.07. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Increases Dividend

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

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.