Raleigh Capital Management Inc. Sells 3,117 Shares of Invesco QQQ $QQQ

Raleigh Capital Management Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 95.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 140 shares of the exchange traded fund’s stock after selling 3,117 shares during the period. Raleigh Capital Management Inc.’s holdings in Invesco QQQ were worth $81,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Invesco QQQ by 381.0% during the 4th quarter. Bank of America Corp DE now owns 19,547,552 shares of the exchange traded fund’s stock valued at $12,008,257,000 after buying an additional 26,505,055 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Invesco QQQ by 3,567.7% in the 4th quarter. Corient Private Wealth LLC now owns 21,436,917 shares of the exchange traded fund’s stock worth $13,168,912,000 after buying an additional 20,852,432 shares during the period. Delta Global Management LP purchased a new stake in Invesco QQQ in the 4th quarter worth $821,084,000. Align Financial LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $78,118,000. Finally, SG Americas Securities LLC raised its holdings in Invesco QQQ by 120.2% during the fourth quarter. SG Americas Securities LLC now owns 213,722 shares of the exchange traded fund’s stock valued at $131,292,000 after acquiring an additional 1,270,102 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.1%

NASDAQ:QQQ opened at $713.61 on Monday. The stock has a 50-day moving average price of $712.54 and a 200 day moving average price of $646.51. Invesco QQQ has a 12-month low of $549.58 and a 12-month high of $748.65.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 22nd will be paid a $0.8135 dividend. This represents a $3.25 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, June 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.73.

Key Invesco QQQ News

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: Weaker-than-expected June jobs data helped cool rate-hike fears, which is generally supportive for growth stocks and the Nasdaq-100 holdings that dominate QQQ. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
• Positive Sentiment: Market commentary says the Nasdaq sell-off may have created a buying opportunity for QQQ after a weak first half for some of America’s biggest growth names. Should You Buy the Invesco QQQ ETF After the Recent Nasdaq Sell-Off? History Offers a Crystal-Clear Answer.
• Positive Sentiment: Reports that stocks and Nasdaq futures were holding up ahead of the payroll release suggest investors remain willing to stay in or add to large-cap tech exposure through QQQ. S&P 500, Nasdaq Futures Climb While Dow Futures Fall Ahead Of Key Jobs Report: META, MU, JACK, CEG Stocks In Focus

About Invesco QQQ

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.