Glassman Wealth Services Has $2.27 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Glassman Wealth Services reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,728 shares of the exchange traded fund’s stock after selling 799 shares during the quarter. Invesco QQQ comprises 0.4% of Glassman Wealth Services’ holdings, making the stock its 15th largest holding. Glassman Wealth Services’ holdings in Invesco QQQ were worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new stake in Invesco QQQ in the first quarter worth approximately $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter valued at approximately $30,000. Legacy Bridge LLC boosted its holdings in shares of 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 buying an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.7 %

Shares of Invesco QQQ stock traded down $12.35 during trading on Friday, reaching $448.69. 50,624,385 shares of the company traded hands, compared to its average volume of 40,492,672. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The company has a 50 day moving average price of $472.43 and a 200-day moving average price of $456.11.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued 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 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.