Droms Strauss Advisors Inc. MO ADV Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Droms Strauss Advisors Inc. MO ADV decreased its position in Invesco QQQ (NASDAQ:QQQ) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 34,773 shares of the exchange traded fund’s stock after selling 645 shares during the period. Invesco QQQ makes up 5.6% of Droms Strauss Advisors Inc. MO ADV’s investment portfolio, making the stock its 6th biggest holding. Droms Strauss Advisors Inc. MO ADV’s holdings in Invesco QQQ were worth $16,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ during the fourth quarter valued at $36,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the first quarter valued at $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the 1st quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4%

Shares of NASDAQ QQQ opened at $556.21 on Tuesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $559.98. The firm’s 50-day simple moving average is $528.46 and its 200 day simple moving average is $505.81.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

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.