Invesco QQQ (NASDAQ:QQQ) Shares Sold by Atlas Legacy Advisors LLC

Key Points

• Atlas Legacy Advisors LLC has reduced its stake in Invesco QQQ by 31.1%, selling 552 shares and now holding 1,221 shares worth $573,000.
• Several other institutional investors have also adjusted their positions, with RWA Wealth Partners LLC increasing its stake by 319.3%, now owning 34,510 shares.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, set to be paid on July 31st, with an annualized yield of 0.42%.

Atlas Legacy Advisors LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 31.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221 shares of the exchange traded fund's stock after selling 552 shares during the period. Atlas Legacy Advisors LLC's holdings in Invesco QQQ were worth $573,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ during the fourth quarter worth approximately $1,018,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ in the fourth quarter worth $815,000. Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC grew its holdings in shares of Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after buying an additional 2,600 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.5%

QQQ stock traded down $2.98 during midday trading on Thursday, hitting $565.04. The stock had a trading volume of 38,439,869 shares, compared to its average volume of 44,593,707. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $574.63. The company's 50-day moving average price is $542.10 and its 200 day moving average price is $509.98.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.