Acorn Wealth Advisors LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Acorn Wealth Advisors LLC lowered its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,692 shares of the exchange traded fund’s stock after selling 32 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Invesco QQQ were worth $826,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Westwood Holdings Group Inc. boosted its holdings in Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares during the period. Socha Financial Group LLC lifted its holdings in shares of Invesco QQQ by 2.4% in the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares during the period. Archer Investment Corp lifted its holdings in shares of Invesco QQQ by 10.2% in the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after buying an additional 4,025 shares during the period. Bank Hapoalim BM lifted its holdings in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after buying an additional 6,347 shares during the period. Finally, Arrow Financial Corp lifted its holdings in shares of Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after buying an additional 9,516 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $1.93 during mid-day trading on Monday, hitting $507.72. The stock had a trading volume of 4,739,005 shares, compared to its average volume of 37,879,965. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm’s 50-day moving average is $493.08 and its two-hundred day moving average is $477.19.

Invesco QQQ Cuts Dividend

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

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.