Invesco QQQ (NASDAQ:QQQ) Shares Sold by Palo Alto Wealth Advisors LLC

Palo Alto Wealth Advisors LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 31.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,052 shares of the exchange traded fund’s stock after selling 479 shares during the quarter. Invesco QQQ makes up 0.2% of Palo Alto Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Palo Alto Wealth Advisors LLC’s holdings in Invesco QQQ were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC increased its position in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in Invesco QQQ by 934.0% during the 1st 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 buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC increased its holdings in shares of Invesco QQQ by 6,215.5% in 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 acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ during the first quarter worth $304,591,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.2 %

QQQ stock traded down $0.98 during trading on Thursday, hitting $511.27. 7,084,372 shares of the company’s stock traded hands, compared to its average volume of 38,092,453. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The stock has a fifty day moving average price of $487.42 and a two-hundred day moving average price of $473.42.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.