Biltmore Family Office LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Biltmore Family Office LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 20.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,036 shares of the exchange traded fund’s stock after selling 267 shares during the period. Biltmore Family Office LLC’s holdings in Invesco QQQ were worth $497,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QQQ. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ in the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC boosted its position in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC increased its position in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth approximately $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $458.66 on Wednesday. The company’s 50 day moving average is $471.31 and its 200 day moving average is $456.60. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were paid a dividend of $0.7615 per share. This represents a $3.05 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, June 24th. This is a boost 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.