Congress Wealth Management LLC DE Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Congress Wealth Management LLC DE cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 12.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,219 shares of the exchange traded fund’s stock after selling 1,313 shares during the period. Congress Wealth Management LLC DE’s holdings in Invesco QQQ were worth $4,094,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after acquiring an additional 28,263,426 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 6.1% during the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock worth $1,530,696,000 after purchasing an additional 243,305 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter worth about $1,580,776,000. Commonwealth Equity Services LLC lifted its holdings in shares of Invesco QQQ by 7.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock valued at $1,013,490,000 after purchasing an additional 162,691 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its holdings in Invesco QQQ by 30.7% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after buying an additional 433,317 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6 %

Invesco QQQ stock traded up $2.81 during midday trading on Monday, reaching $481.92. 24,794,379 shares of the company were exchanged, compared to its average volume of 40,935,367. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $487.20. The firm’s 50-day simple moving average is $454.85 and its 200-day simple moving average is $436.77.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is 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.