Legend Financial Advisors Inc. Sells 644 Shares of Invesco QQQ (NASDAQ:QQQ)

Legend Financial Advisors Inc. trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 2.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 26,433 shares of the exchange traded fund’s stock after selling 644 shares during the quarter. Invesco QQQ accounts for approximately 8.5% of Legend Financial Advisors Inc.’s holdings, making the stock its 4th biggest holding. Legend Financial Advisors Inc.’s holdings in Invesco QQQ were worth $11,736,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atwater Malick LLC acquired a new position in Invesco QQQ during the 1st quarter valued at about $293,000. Bank Hapoalim BM raised its holdings in shares of Invesco QQQ by 6.3% during the fourth quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock valued at $31,669,000 after buying an additional 4,549 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in Invesco QQQ by 29.7% in the 4th quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock worth $1,848,000 after buying an additional 1,033 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 6.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after acquiring an additional 243,305 shares in the last quarter. Finally, GenWealth Group Inc. increased its holdings in shares of Invesco QQQ by 5.8% during the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ traded down $2.50 during trading on Friday, reaching $479.11. The stock had a trading volume of 34,881,581 shares, compared to its average volume of 28,583,126. The stock has a 50 day moving average of $454.85 and a two-hundred day moving average of $436.54. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $487.20.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be paid a $0.7615 dividend. The ex-dividend date is Monday, June 24th. This represents a $3.05 annualized dividend and a dividend yield of 0.64%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.