Droms Strauss Advisors Inc. MO ADV Sells 645 Shares of Invesco QQQ (NASDAQ:QQQ)

Droms Strauss Advisors Inc. MO ADV lessened its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,773 shares of the exchange traded fund's stock after selling 645 shares during the quarter. Invesco QQQ comprises approximately 5.6% of Droms Strauss Advisors Inc. MO ADV's investment portfolio, making the stock its 6th largest holding. Droms Strauss Advisors Inc. MO ADV's holdings in Invesco QQQ were worth $16,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. increased its position in shares of Invesco QQQ by 47.6% during the 1st quarter. Mountain Hill Investment Partners Corp. now owns 806 shares of the exchange traded fund's stock worth $378,000 after purchasing an additional 260 shares during the last quarter. BluePointe Capital Management LLC purchased a new stake in Invesco QQQ in the first quarter valued at approximately $316,000. Graybill Wealth Management LTD. purchased a new stake in Invesco QQQ in the first quarter valued at approximately $188,000. Firestone Capital Management increased its holdings in shares of Invesco QQQ by 18.5% in the first quarter. Firestone Capital Management now owns 1,289 shares of the exchange traded fund's stock valued at $604,000 after purchasing an additional 201 shares during the period. Finally, Strata Wealth Advisors LLC grew its holdings in Invesco QQQ by 13.7% during the first quarter. Strata Wealth Advisors LLC now owns 1,410 shares of the exchange traded fund's stock worth $661,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $556.21 on Tuesday. The business has a 50-day moving average of $528.46 and a two-hundred day moving average of $505.81. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $559.98.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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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