Invesco QQQ (NASDAQ:QQQ) Stock Position Lowered by American Financial Advisors LLC

American Financial Advisors LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,124 shares of the exchange traded fund's stock after selling 2,846 shares during the quarter. Invesco QQQ comprises 8.0% of American Financial Advisors LLC's investment portfolio, making the stock its biggest position. American Financial Advisors LLC's holdings in Invesco QQQ were worth $54,922,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QQQ. NWI Management LP increased its holdings in shares of Invesco QQQ by 121.6% in the 4th quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of Invesco QQQ in the 4th quarter valued at $679,936,000. Spear Holdings RSC Ltd purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at $474,600,000. Finally, Asset Planning Services Inc. LA ADV boosted its stake in shares of Invesco QQQ by 100,517.9% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock valued at $437,375,000 after purchasing an additional 931,801 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $554.20 on Friday. The firm has a fifty day simple moving average of $527.06 and a two-hundred day simple moving average of $505.91. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $557.63.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

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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