Oppenheimer Asset Management Inc. Trims Stock Holdings in Invesco QQQ $QQQ

Oppenheimer Asset Management Inc. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 61.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,794 shares of the exchange traded fund’s stock after selling 33,482 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Invesco QQQ were worth $11,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. GSG Advisors LLC grew its stake in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after acquiring an additional 585 shares during the last quarter. Amundi raised its holdings in Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock worth $49,980,000 after buying an additional 6,600 shares during the last quarter. Jackson Wealth Management LLC lifted its stake in shares of Invesco QQQ by 8.6% in the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock worth $9,428,000 after buying an additional 1,586 shares in the last quarter. Greykasell Wealth Strategies Inc. grew its holdings in shares of Invesco QQQ by 8.4% during the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock valued at $3,649,000 after buying an additional 605 shares during the last quarter. Finally, AM Investment Strategies LLC increased its position in shares of Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock valued at $904,000 after acquiring an additional 612 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $617.10 on Monday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $618.42. The company has a 50 day moving average of $590.61 and a 200 day moving average of $547.74.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued 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 an increase from Invesco QQQ’s previous quarterly dividend of $0.59.

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.