Invesco QQQ (NASDAQ:QQQ) Position Reduced by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 142,227 shares of the exchange traded fund’s stock after selling 15,004 shares during the quarter. Invesco QQQ accounts for 1.7% of Foundations Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Foundations Investment Advisors LLC’s holdings in Invesco QQQ were worth $68,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Prospect Financial Services LLC increased its stake in shares of Invesco QQQ by 0.3% in 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 in the last quarter. Sweeney & Michel LLC increased its stake in shares of Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after purchasing an additional 22 shares in the last quarter. Family Firm Inc. increased its stake in shares of Invesco QQQ by 3.1% in the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after purchasing an additional 22 shares in the last quarter. Summit X LLC increased its stake in shares of Invesco QQQ by 0.4% in the fourth quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock worth $2,451,000 after purchasing an additional 24 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ traded down $1.11 during trading hours on Wednesday, hitting $460.70. The company’s stock had a trading volume of 4,663,397 shares, compared to its average volume of 40,300,867. The business has a 50 day simple moving average of $473.84 and a two-hundred day simple moving average of $455.72. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were paid a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $3.05 annualized dividend and a yield of 0.66%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.