Sage Mountain Advisors LLC Trims Stock Position in Invesco QQQ $QQQ

Sage Mountain Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 17.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,943 shares of the exchange traded fund’s stock after selling 2,457 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Invesco QQQ were worth $6,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC increased its position in Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock valued at $1,501,063,000 after buying an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after buying an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.1%

Shares of Invesco QQQ stock opened at $617.10 on Friday. The firm’s 50-day moving average is $590.61 and its 200 day moving average is $546.26. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $618.42.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59.

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.