Invesco QQQ (NASDAQ:QQQ) Shares Sold by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,944 shares of the exchange traded fund’s stock after selling 100 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Invesco QQQ were worth $931,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the 1st quarter worth approximately $28,000. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Legacy Bridge LLC raised its stake in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new position in Invesco QQQ in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.7 %

NASDAQ:QQQ opened at $448.69 on Friday. The stock has a 50 day moving average of $472.43 and a 200-day moving average of $455.91. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were given a dividend of $0.7615 per share. The ex-dividend date was Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.68%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57.

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.