American Financial Advisors LLC Trims Holdings in Invesco QQQ $QQQ

Key Points

• American Financial Advisors LLC has reduced its stake in Invesco QQQ by 3.3%, now owning 113,288 shares valued at approximately $62.5 million, making it their largest position.
• Other institutional investors have made significant adjustments as well, with Farmers & Merchants Trust Co increasing its position by 266.7% to 275 shares.
• As of its latest filing, Invesco QQQ stock has fluctuated between a 12-month low of $402.39 and a high of $592.86, with a current price of $590.00.

American Financial Advisors LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,288 shares of the exchange traded fund's stock after selling 3,836 shares during the period. Invesco QQQ makes up about 8.7% of American Financial Advisors LLC's portfolio, making the stock its biggest position. American Financial Advisors LLC's holdings in Invesco QQQ were worth $62,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Invesco QQQ by 266.7% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 275 shares of the exchange traded fund's stock valued at $152,000 after purchasing an additional 200 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in Invesco QQQ by 44.9% in the second quarter. KMG Fiduciary Partners LLC now owns 1,098 shares of the exchange traded fund's stock worth $606,000 after buying an additional 340 shares during the last quarter. Signal Advisors Wealth LLC increased its position in Invesco QQQ by 4.9% during the second quarter. Signal Advisors Wealth LLC now owns 9,646 shares of the exchange traded fund's stock valued at $5,321,000 after acquiring an additional 452 shares during the last quarter. Focus Financial Network Inc. increased its position in Invesco QQQ by 1.8% during the second quarter. Focus Financial Network Inc. now owns 166,170 shares of the exchange traded fund's stock valued at $91,666,000 after acquiring an additional 2,863 shares during the last quarter. Finally, Financial Management Network Inc. increased its position in Invesco QQQ by 4.8% during the second quarter. Financial Management Network Inc. now owns 5,454 shares of the exchange traded fund's stock valued at $3,034,000 after acquiring an additional 251 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $590.00 on Thursday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $592.86. The firm has a 50-day moving average price of $570.49 and a 200-day moving average price of $522.22.

Invesco QQQ Cuts Dividend

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

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