EverSource Wealth Advisors LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• EverSource Wealth Advisors LLC reduced its stake in Invesco QQQ by 8.3% in the first quarter, now holding 8,549 shares valued at approximately $4.01 million.
• Other institutional investors also adjusted their positions, with Eagle Capital Management LLC increasing holdings by 0.3%, and Guggenheim Capital LLC boosting its stake by an impressive 119.8%.
• Invesco QQQ has seen its stock value fluctuate, with a 1-year low of $402.39 and a high of $583.32, and recently declared a quarterly dividend yield of 0.4%.

EverSource Wealth Advisors LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,549 shares of the exchange traded fund's stock after selling 772 shares during the period. EverSource Wealth Advisors LLC's holdings in Invesco QQQ were worth $4,009,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Laird Norton Wetherby Wealth Management LLC increased its stake in Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. increased its stake in Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after acquiring an additional 21 shares during the last quarter. MTM Investment Management LLC grew its stake in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares during the last quarter. Cutler Investment Counsel LLC grew its stake in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after buying an additional 21 shares during the last quarter. Finally, Tobias Financial Advisors Inc. grew its stake in shares of Invesco QQQ by 2.8% during the fourth quarter. Tobias Financial Advisors Inc. now owns 812 shares of the exchange traded fund's stock valued at $415,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Shares of NASDAQ:QQQ traded down $2.55 on Friday, reaching $577.34. 49,393,990 shares of the company traded hands, compared to its average volume of 44,038,980. The business's 50-day simple moving average is $554.13 and its 200 day simple moving average is $514.12. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32.

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 dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was 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.