McAdam LLC Trims Stock Position in Invesco QQQ $QQQ

McAdam LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 29.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,350 shares of the exchange traded fund’s stock after selling 1,379 shares during the quarter. McAdam LLC’s holdings in Invesco QQQ were worth $1,571,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its stake in Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after buying an additional 176 shares during the period. Triumph Capital Management grew its stake in shares of Invesco QQQ by 1.8% during the 4th quarter. Triumph Capital Management now owns 8,753 shares of the exchange traded fund’s stock worth $4,475,000 after purchasing an additional 154 shares during the period. Gotham Asset Management LLC grew its stake in shares of Invesco QQQ by 9.5% during the 4th quarter. Gotham Asset Management LLC now owns 7,827 shares of the exchange traded fund’s stock worth $4,001,000 after purchasing an additional 677 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth $20,079,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4%

NASDAQ:QQQ opened at $582.99 on Wednesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.47. The firm’s fifty day simple moving average is $566.46 and its 200-day simple moving average is $519.13.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.