Acorn Financial Advisory Services Inc. ADV Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Acorn Financial Advisory Services Inc. ADV decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,036 shares of the exchange traded fund's stock after selling 1,201 shares during the period. Invesco QQQ comprises approximately 2.4% of Acorn Financial Advisory Services Inc. ADV's portfolio, making the stock its 13th largest position. Acorn Financial Advisory Services Inc. ADV's holdings in Invesco QQQ were worth $13,147,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Naviter Wealth LLC grew its stake in shares of Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund's stock worth $675,000 after purchasing an additional 107 shares in the last quarter. Eagle Capital Management LLC grew its stake in shares of Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after purchasing an additional 185 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Invesco QQQ by 5.6% during the fourth quarter. Assetmark Inc. now owns 28,374 shares of the exchange traded fund's stock worth $14,506,000 after purchasing an additional 1,508 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $5.08 on Friday, reaching $555.88. 26,443,524 shares of the stock were exchanged, compared to its average volume of 39,274,525. The business's 50 day moving average price is $519.53 and its 200 day moving average price is $504.60. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.