Rollins Financial Advisors LLC Sells 10,998 Shares of Invesco QQQ $QQQ

Key Points

• Rollins Financial Advisors LLC reduced its stake in Invesco QQQ by 7.3%, selling 10,998 shares and maintaining 140,429 shares, representing approximately 11.5% of its investment portfolio.
• Several hedge funds, including Brighton Jones LLC and Revolve Wealth Partners LLC, have recently increased their positions in Invesco QQQ, indicating growing investor interest.
• Invesco QQQ declared a quarterly dividend of $0.5911, translating to an annual yield of 0.4%, with a recent share price of $580.70.

Rollins Financial Advisors LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,429 shares of the exchange traded fund's stock after selling 10,998 shares during the period. Invesco QQQ accounts for 11.5% of Rollins Financial Advisors LLC's holdings, making the stock its 2nd biggest holding. Rollins Financial Advisors LLC's holdings in Invesco QQQ were worth $65,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QQQ. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth $2,775,904,000. NWI Management LP lifted 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 worth $8,777,850,000 after purchasing an additional 1,868,580 shares during the period. Finally, Spear Holdings RSC Ltd acquired a new position in shares of Invesco QQQ during the first quarter worth $474,600,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock traded up $2.58 during midday trading on Friday, hitting $586.66. The stock had a trading volume of 50,702,733 shares, compared to its average volume of 46,804,284. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $587.86. The business has a fifty day moving average price of $568.24 and a two-hundred day moving average price of $520.50.

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 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.