GDS Wealth Management Has $399,000 Position in Invesco QQQ (NASDAQ:QQQ)

GDS Wealth Management trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 39.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 832 shares of the exchange traded fund’s stock after selling 551 shares during the period. GDS Wealth Management’s holdings in Invesco QQQ were worth $399,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the 1st quarter valued at $28,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the second quarter worth about $30,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% during the 1st 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 last quarter. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4 %

NASDAQ QQQ opened at $473.24 on Tuesday. The business’s 50-day moving average price is $469.61 and its two-hundred day moving average price is $457.60. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, June 24th.

Invesco QQQ 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.