Fairfield Financial Advisors LTD Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Fairfield Financial Advisors LTD lessened its stake in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,967 shares of the exchange traded fund’s stock after selling 463 shares during the quarter. Invesco QQQ makes up about 9.1% of Fairfield Financial Advisors LTD’s portfolio, making the stock its biggest position. Fairfield Financial Advisors LTD’s holdings in Invesco QQQ were worth $26,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. International Assets Investment Management LLC lifted its holdings in shares of Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC raised its stake in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in Invesco QQQ in the 1st quarter worth $304,591,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock traded down $10.37 during midday trading on Thursday, reaching $486.01. The stock had a trading volume of 19,119,004 shares, compared to its average volume of 38,547,910. The firm has a fifty day simple moving average of $481.47 and a two-hundred day simple moving average of $468.04. Invesco QQQ has a 52-week low of $346.62 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

About Invesco QQQ

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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