Private Advisory Group LLC Sells 1,418 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Private Advisory Group LLC reduced its holdings in Invesco QQQ by 6.0% in the first quarter, now owning 22,210 shares worth approximately $10.4 million.
• A significant portion, 44.58%, of Invesco QQQ stock is held by hedge funds and other institutional investors, with several new stakes acquired in recent quarters.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, equating to an annual yield of 0.42%, with the next payment scheduled for July 31st.

Private Advisory Group LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 22,210 shares of the exchange traded fund's stock after selling 1,418 shares during the period. Invesco QQQ comprises about 1.2% of Private Advisory Group LLC's holdings, making the stock its 18th largest holding. Private Advisory Group LLC's holdings in Invesco QQQ were worth $10,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC increased its position in Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares during the period. Willis Johnson & Associates Inc. grew its position in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after buying an additional 21 shares during the period. MTM Investment Management LLC grew its position in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after buying an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC grew its position in shares of Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded down $11.13 during trading on Friday, hitting $553.88. 69,290,965 shares of the company were exchanged, compared to its average volume of 44,970,789. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63. The firm's fifty day moving average price is $543.12 and its 200 day moving average price is $510.39.

Invesco QQQ Cuts Dividend

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

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.