Investor s Fiduciary Advisor Network LLC Sells 522 Shares of Invesco QQQ (NASDAQ:QQQ)

Investor s Fiduciary Advisor Network LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,886 shares of the exchange traded fund's stock after selling 522 shares during the period. Invesco QQQ comprises 4.0% of Investor s Fiduciary Advisor Network LLC's portfolio, making the stock its 3rd largest position. Investor s Fiduciary Advisor Network LLC's holdings in Invesco QQQ were worth $8,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Ameriprise Financial Inc. lifted its holdings in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after purchasing an additional 52,235 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after purchasing an additional 568,120 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.7%

Shares of Invesco QQQ stock traded up $3.91 on Wednesday, reaching $556.25. 42,638,564 shares of the company were exchanged, compared to its average volume of 39,368,577. The company's 50-day moving average is $522.66 and its two-hundred day moving average is $505.17. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.57.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 annualized dividend and a 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.