Palo Alto Wealth Advisors LLC Sells 479 Shares of Invesco QQQ $QQQ

Key Points

• Palo Alto Wealth Advisors LLC reduced its holdings in Invesco QQQ by 45.5%, now owning 574 shares worth $296,000 as of the end of the most recent quarter.
• Other hedge funds have also adjusted their positions, with significant increases in holdings, demonstrating investor interest in Invesco QQQ.
• The stock is currently priced at $577.08, having a 52-week range between $402.39 and $583.32.

Palo Alto Wealth Advisors LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 45.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 574 shares of the exchange traded fund's stock after selling 479 shares during the period. Palo Alto Wealth Advisors LLC's holdings in Invesco QQQ were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of QQQ. Eagle Capital Management LLC grew its stake in shares of Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after buying an additional 185 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Invesco QQQ during the fourth quarter worth $610,000. Finally, AQR Capital Management LLC grew its stake in shares of Invesco QQQ by 122.6% during the fourth quarter. AQR Capital Management LLC now owns 86,832 shares of the exchange traded fund's stock worth $44,391,000 after buying an additional 47,821 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $6.68 during mid-day trading on Monday, reaching $570.40. 55,870,652 shares of the company's stock were exchanged, compared to its average volume of 44,778,712. The business's fifty day moving average price is $562.24 and its 200-day moving average price is $517.17. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.