Fairfield Financial Advisors LTD Sells 807 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Fairfield Financial Advisors LTD reduced its stake in Invesco QQQ by 1.5%, now holding 53,244 shares valued at approximately $24.97 million.
• Invesco QQQ has seen significant activity from other institutional investors, including a 266.4% increase in holdings by Gemsstock Ltd. during the fourth quarter.
• The recent quarterly dividend paid was $0.5911 per share, reflecting an annualized dividend yield of just 0.4%.

Fairfield Financial Advisors LTD trimmed its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,244 shares of the exchange traded fund's stock after selling 807 shares during the period. Invesco QQQ comprises approximately 9.4% of Fairfield Financial Advisors LTD's investment portfolio, making the stock its biggest position. Fairfield Financial Advisors LTD's holdings in Invesco QQQ were worth $24,967,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC boosted its stake in Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its stake in Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after purchasing an additional 20 shares during the period. Willis Johnson & Associates Inc. boosted its stake in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC boosted its stake in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC lifted its stake in shares of Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after acquiring an additional 21 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 2.0%

Shares of QQQ stock traded down $11.13 during mid-day trading on Friday, hitting $553.88. The stock had a trading volume of 69,290,965 shares, compared to its average volume of 43,611,480. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63. The company's 50-day simple moving average is $544.01 and its 200-day simple moving average is $510.67.

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 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.

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.