Destiny Wealth Partners LLC Reduces Stake in Invesco QQQ $QQQ

Destiny Wealth Partners LLC decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,052 shares of the exchange traded fund’s stock after selling 227 shares during the period. Destiny Wealth Partners LLC’s holdings in Invesco QQQ were worth $8,303,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ in the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at about $51,000. Blume Capital Management Inc. raised its holdings in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC raised its holdings in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $595.97 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The stock’s 50-day moving average is $576.04 and its 200 day moving average is $527.48.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.