Altfest L J & Co. Inc. Sells 35,205 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Altfest L J & Co. Inc. reduced its stake in Invesco QQQ by 85.1%, selling 35,205 shares and leaving them with 6,172 shares valued at $2,894,000.
• Institutional investors hold approximately 44.58% of Invesco QQQ, with various firms increasing their stakes during the last quarter.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4%.

Altfest L J & Co. Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 85.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,172 shares of the exchange traded fund's stock after selling 35,205 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Invesco QQQ were worth $2,894,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Eagle Capital Management LLC raised its holdings in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC grew its position in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Invesco QQQ by 3.5% in 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 during the period. Russell Investments Group Ltd. increased its stake in shares of Invesco QQQ by 25.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock worth $1,467,000 after purchasing an additional 573 shares during the period. Finally, FMR LLC boosted its stake in Invesco QQQ by 1.4% during the 4th quarter. FMR LLC now owns 788,926 shares of the exchange traded fund's stock valued at $403,323,000 after purchasing an additional 10,861 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ traded up $1.92 during midday trading on Thursday, reaching $569.24. The company's stock had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. The company has a fifty day simple moving average of $547.85 and a 200 day simple moving average of $512.02. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.