Flaharty Asset Management LLC Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Flaharty Asset Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,581 shares of the exchange traded fund’s stock after selling 2,557 shares during the period. Invesco QQQ comprises about 1.3% of Flaharty Asset Management LLC’s holdings, making the stock its 22nd largest position. Flaharty Asset Management LLC’s holdings in Invesco QQQ were worth $7,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Somerset Group LLC boosted its position in shares of Invesco QQQ by 0.9% in the 2nd quarter. Somerset Group LLC now owns 17,109 shares of the exchange traded fund’s stock worth $6,320,000 after buying an additional 145 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Invesco QQQ by 296.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,523,694 shares of the exchange traded fund’s stock valued at $3,887,663,000 after purchasing an additional 7,868,131 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Invesco QQQ by 29.5% in the 2nd quarter. Osaic Holdings Inc. now owns 3,299,547 shares of the exchange traded fund’s stock valued at $791,498,000 after purchasing an additional 750,922 shares in the last quarter. Monashee Investment Management LLC lifted its holdings in Invesco QQQ by 49.1% in the 2nd quarter. Monashee Investment Management LLC now owns 85,000 shares of the exchange traded fund’s stock valued at $31,401,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Invesco QQQ by 1.5% in the 2nd quarter. Bessemer Group Inc. now owns 37,025 shares of the exchange traded fund’s stock valued at $13,678,000 after purchasing an additional 540 shares in the last quarter. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $3.50 on Tuesday, reaching $387.24. The stock had a trading volume of 17,178,807 shares, compared to its average volume of 53,489,238. The firm’s fifty day moving average is $365.48 and its two-hundred day moving average is $363.10. Invesco QQQ has a 12-month low of $259.73 and a 12-month high of $391.41.

Invesco QQQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Tuesday, September 19th were issued a $0.5389 dividend. The ex-dividend date was Monday, September 18th. This represents a $2.16 dividend on an annualized basis and a yield of 0.56%.

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.