Foundations Investment Advisors LLC Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Foundations Investment Advisors LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 41.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,245 shares of the exchange traded fund’s stock after selling 81,940 shares during the quarter. Invesco QQQ makes up about 1.0% of Foundations Investment Advisors LLC’s portfolio, making the stock its 20th biggest holding. Foundations Investment Advisors LLC’s holdings in Invesco QQQ were worth $53,572,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund’s stock worth $247,000 after purchasing an additional 20 shares in the last quarter. Legacy Investment Solutions LLC increased its holdings in shares of Invesco QQQ by 8.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock valued at $138,000 after acquiring an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Invesco QQQ by 0.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock valued at $3,080,000 after acquiring an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. increased its holdings in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock valued at $416,000 after acquiring an additional 21 shares during the last quarter. Finally, MTM Investment Management LLC increased its holdings in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock valued at $613,000 after acquiring an additional 21 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $566.37 on Monday. The business’s 50-day simple moving average is $539.14 and its 200-day simple moving average is $508.75. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $567.70.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.