SRS Capital Advisors Inc. Sells 778 Shares of Invesco QQQ (NASDAQ:QQQ)

SRS Capital Advisors Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,760 shares of the exchange traded fund’s stock after selling 778 shares during the quarter. Invesco QQQ makes up about 3.6% of SRS Capital Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding. SRS Capital Advisors Inc.’s holdings in Invesco QQQ were worth $36,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth approximately $29,000. Legacy Bridge LLC boosted its holdings in shares of Invesco QQQ by 800.0% in 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 in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $35,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $12.35 during midday trading on Friday, hitting $448.69. 50,624,385 shares of the stock were exchanged, compared to its average volume of 40,492,672. The business has a 50-day moving average price of $472.43 and a two-hundred day moving average price of $455.91. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.68%.

Invesco QQQ Company 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.