Archford Capital Strategies LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Archford Capital Strategies LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 49.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,191 shares of the exchange traded fund's stock after selling 1,165 shares during the quarter. Archford Capital Strategies LLC's holdings in Invesco QQQ were worth $559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bridge Generations Wealth Management LLC acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $36,000. Banque Transatlantique SA acquired a new position in Invesco QQQ in the fourth quarter valued at approximately $57,000. Perritt Capital Management Inc purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $61,000. Finally, Frazier Financial Advisors LLC lifted its stake in Invesco QQQ by 1,288.9% in the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after buying an additional 116 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $1.87 on Friday, reaching $548.09. The stock had a trading volume of 57,440,636 shares, compared to its average volume of 39,006,887. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $549.99. The business's 50-day moving average price is $509.76 and its 200 day moving average price is $503.72.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid 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 of this dividend 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.