Cohen Klingenstein LLC Decreases Stake in Invesco QQQ $QQQ

Cohen Klingenstein LLC cut its position in Invesco QQQ (NASDAQ:QQQ) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,360 shares of the exchange traded fund’s stock after selling 20,470 shares during the quarter. Invesco QQQ comprises 6.0% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 3rd biggest position. Cohen Klingenstein LLC owned about 0.05% of Invesco QQQ worth $180,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Compass Financial Services Inc increased its holdings in shares of Invesco QQQ by 0.4% in the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after buying an additional 19 shares during the period. Vermillion Wealth Management Inc. boosted its holdings in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after acquiring an additional 20 shares during the period. MTM Investment Management LLC grew its position in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after acquiring an additional 21 shares during the last quarter. Cutler Investment Counsel LLC increased its stake in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after purchasing an additional 21 shares during the period. Finally, Occidental Asset Management LLC lifted its position in Invesco QQQ by 1.7% in the second quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund’s stock valued at $678,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $603.25 on Thursday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $603.79. The company’s 50 day moving average price is $578.30 and its 200-day moving average price is $530.08.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a dividend 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.