Bright Financial Advisors Inc. Sells 589 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Bright Financial Advisors Inc. reduced its holdings in Invesco QQQ by 9.0% in the first quarter, owning 5,940 shares after the sale of 589 shares.
• Various hedge funds have recently made significant changes to their positions in Invesco QQQ, with Cary Street Partners Financial LLC purchasing a new position valued at $10,052,000.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, representing an annualized dividend of $2.36 and a yield of 0.4%.

Bright Financial Advisors Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,940 shares of the exchange traded fund's stock after selling 589 shares during the period. Invesco QQQ accounts for about 1.7% of Bright Financial Advisors Inc.'s portfolio, making the stock its 16th biggest holding. Bright Financial Advisors Inc.'s holdings in Invesco QQQ were worth $2,785,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Wilkins Miller Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $1,018,000. Sentinus LLC boosted its stake in Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after buying an additional 970 shares during the last quarter. Sendero Wealth Management LLC bought a new position in Invesco QQQ during the first quarter valued at approximately $273,000. Cary Street Partners Financial LLC bought a new position in Invesco QQQ during the fourth quarter valued at approximately $10,052,000. Finally, Baird Financial Group Inc. boosted its stake in Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock valued at $167,394,000 after buying an additional 12,627 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $580.05 on Wednesday. The stock's 50 day simple moving average is $551.05 and its two-hundred day simple moving average is $512.86. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $580.35.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a 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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