Alta Wealth Advisors LLC Has $3.04 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Alta Wealth Advisors LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 27.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,233 shares of the exchange traded fund’s stock after selling 2,390 shares during the quarter. Invesco QQQ accounts for 1.4% of Alta Wealth Advisors LLC’s portfolio, making the stock its 16th largest holding. Alta Wealth Advisors LLC’s holdings in Invesco QQQ were worth $3,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Atwater Malick LLC acquired a new position in Invesco QQQ in the 1st quarter valued at approximately $293,000. Westwood Holdings Group Inc. lifted its position in Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the period. Socha Financial Group LLC lifted its position in Invesco QQQ by 1.3% in the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the period. SVB Wealth LLC boosted its stake in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp increased its holdings in Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after buying an additional 1,894 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7 %

NASDAQ:QQQ opened at $494.47 on Friday. The company has a 50-day moving average of $477.68 and a 200-day moving average of $464.99. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is 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.