Independent Advisor Alliance Has $4.52 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Independent Advisor Alliance significantly reduced its holdings in Invesco QQQ by 93.9% during the first quarter, now owning 9,641 shares valued at approximately $4.52 million.
• Multiple institutional investors recently acquired stakes in Invesco QQQ, contributing to a total institutional ownership of 44.58% in the company's stock.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.4% as of its last payment date.

Independent Advisor Alliance decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 93.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,641 shares of the exchange traded fund's stock after selling 147,518 shares during the period. Independent Advisor Alliance's holdings in Invesco QQQ were worth $4,521,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bridge Generations Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter worth $36,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ in the 1st quarter worth $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter worth $51,000. Finally, Banque Transatlantique SA bought a new stake in shares of Invesco QQQ in the 4th quarter worth $57,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.3%

NASDAQ QQQ opened at $572.85 on Tuesday. The company has a fifty day moving average price of $550.00 and a 200-day moving average price of $512.39. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $576.80.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.

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