Patton Albertson Miller Group LLC Sells 2,350 Shares of Invesco QQQ (NASDAQ:QQQ)

Patton Albertson Miller Group LLC lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 58.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the exchange traded fund's stock after selling 2,350 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Invesco QQQ were worth $790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Carson Advisory Inc. boosted its position in shares of Invesco QQQ by 9.3% during the first quarter. Carson Advisory Inc. now owns 708 shares of the exchange traded fund's stock worth $332,000 after buying an additional 60 shares during the period. Mystic Asset Management Inc. increased its stake in Invesco QQQ by 1.9% during the 1st quarter. Mystic Asset Management Inc. now owns 17,241 shares of the exchange traded fund's stock worth $8,085,000 after acquiring an additional 319 shares during the period. Acas LLC increased its stake in shares of Invesco QQQ by 9.6% in the 1st quarter. Acas LLC now owns 3,563 shares of the exchange traded fund's stock valued at $1,716,000 after purchasing an additional 311 shares during the last quarter. Forte Capital LLC ADV increased its stake in shares of Invesco QQQ by 9.0% in the 1st quarter. Forte Capital LLC ADV now owns 1,993 shares of the exchange traded fund's stock valued at $934,000 after purchasing an additional 165 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in shares of Invesco QQQ by 0.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 98,747 shares of the exchange traded fund's stock valued at $46,305,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $561.80 on Friday. The business has a 50 day moving average price of $532.92 and a 200-day moving average price of $506.84. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $562.63.

Invesco QQQ Cuts Dividend

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

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.

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