Janney Montgomery Scott LLC Sells 45,664 Shares of Invesco QQQ (NASDAQ:QQQ)

Janney Montgomery Scott LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 6.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 711,792 shares of the exchange traded fund’s stock after selling 45,664 shares during the period. Invesco QQQ comprises 0.9% of Janney Montgomery Scott LLC’s investment portfolio, making the stock its 13th biggest position. Janney Montgomery Scott LLC owned approximately 0.12% of Invesco QQQ worth $316,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of QQQ. Summit X LLC lifted its stake in Invesco QQQ by 0.4% during the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after acquiring an additional 24 shares during the period. IMA Wealth Inc. grew its holdings in shares of Invesco QQQ by 1.3% during the third quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after buying an additional 25 shares in the last quarter. S.A. Mason LLC grew its holdings in shares of Invesco QQQ by 1.5% during the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock worth $696,000 after buying an additional 25 shares in the last quarter. Lauterbach Financial Advisors LLC boosted its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock valued at $2,296,000 after acquiring an additional 25 shares during the last quarter. Finally, Cedrus LLC boosted its position in shares of Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after acquiring an additional 25 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 1.0 %

Shares of QQQ stock traded up $5.12 on Friday, hitting $496.16. 28,495,936 shares of the stock traded hands, compared to its average volume of 25,387,020. The firm’s 50-day moving average price is $461.28 and its two-hundred day moving average price is $439.25. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $496.60.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be given a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.61%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.