Invesco QQQ (NASDAQ:QQQ) Shares Sold by Palo Alto Wealth Advisors LLC

Palo Alto Wealth Advisors LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 31.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,052 shares of the exchange traded fund’s stock after selling 479 shares during the quarter. Invesco QQQ comprises about 0.2% of Palo Alto Wealth Advisors LLC’s portfolio, making the stock its 27th biggest holding. Palo Alto Wealth Advisors LLC’s holdings in Invesco QQQ were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of QQQ. Northeast Investment Management increased its stake in shares of Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares during the last quarter. Planning Capital Management Corp increased its position in Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC increased its position in Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. raised its stake in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the period. Finally, Madden Advisory Services Inc. boosted its holdings in shares of Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded down $0.98 during trading hours on Thursday, reaching $511.27. The stock had a trading volume of 7,084,372 shares, compared to its average volume of 38,092,453. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The firm has a 50 day simple moving average of $487.42 and a two-hundred day simple moving average of $473.42.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.53%.

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.