American Financial Advisors LLC Sells 2,846 Shares of Invesco QQQ (NASDAQ:QQQ)

American Financial Advisors LLC lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,124 shares of the exchange traded fund's stock after selling 2,846 shares during the quarter. Invesco QQQ comprises approximately 8.0% of American Financial Advisors LLC's portfolio, making the stock its largest holding. American Financial Advisors LLC's holdings in Invesco QQQ were worth $54,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NWI Management LP boosted its holdings in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Invesco QQQ by 55,795.2% during the first 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 during the last quarter. Senator Investment Group LP purchased a new position in shares of Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Spear Holdings RSC Ltd bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $474,600,000. Finally, Asset Planning Services Inc. LA ADV increased its position in shares of Invesco QQQ by 100,517.9% during the first 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 acquiring an additional 931,801 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.1%

Shares of Invesco QQQ stock traded up $0.51 on Tuesday, hitting $556.72. 43,038,869 shares of the company's stock were exchanged, compared to its average volume of 39,422,560. The company has a 50-day simple moving average of $528.46 and a 200-day simple moving average of $505.81. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $560.70.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.