Colton Groome Financial Advisors LLC Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

Colton Groome Financial Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,662 shares of the exchange traded fund’s stock after selling 716 shares during the period. Invesco QQQ makes up 1.4% of Colton Groome Financial Advisors LLC’s portfolio, making the stock its 20th biggest position. Colton Groome Financial Advisors LLC’s holdings in Invesco QQQ were worth $3,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ during the first quarter valued at $1,580,776,000. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Invesco QQQ by 30.7% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 1,846,386 shares of the exchange traded fund’s stock valued at $819,814,000 after purchasing an additional 433,317 shares in the last quarter. Comerica Bank bought a new position in shares of Invesco QQQ during the third quarter valued at $140,657,000. Finally, Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 47.1% during the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock valued at $451,075,000 after purchasing an additional 378,922 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $481.62 on Tuesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $487.20. The business’s 50-day moving average is $454.85 and its two-hundred day moving average is $436.77.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a $0.7615 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.63%.

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.