Linscomb Wealth Inc. Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Linscomb Wealth Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,438 shares of the exchange traded fund’s stock after selling 396 shares during the period. Linscomb Wealth Inc.’s holdings in Invesco QQQ were worth $4,043,000 at the end of the most recent reporting period.

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

Invesco QQQ Stock Up 0.9 %

Shares of QQQ opened at $458.66 on Wednesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company has a 50 day simple moving average of $471.31 and a two-hundred day simple moving average of $456.60.

Invesco QQQ Increases Dividend

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