Hudson Valley Investment Advisors Inc. ADV Cuts Stock Holdings in Invesco QQQ $QQQ

Hudson Valley Investment Advisors Inc. ADV decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,815 shares of the exchange traded fund’s stock after selling 30 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Invesco QQQ were worth $1,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Brighton Jones LLC boosted its stake in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Wealth Group Ltd. boosted its stake in Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after buying an additional 4,835 shares in the last quarter. Intellectus Partners LLC boosted its stake in Invesco QQQ by 16.4% in the first quarter. Intellectus Partners LLC now owns 1,857 shares of the exchange traded fund’s stock worth $872,000 after buying an additional 262 shares in the last quarter. Finally, Ehrlich Financial Group boosted its stake in Invesco QQQ by 57.1% in the first quarter. Ehrlich Financial Group now owns 2,767 shares of the exchange traded fund’s stock worth $1,298,000 after buying an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.4%

Shares of QQQ opened at $603.18 on Friday. The stock has a 50 day simple moving average of $579.85 and a two-hundred day simple moving average of $532.17. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $607.33.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be paid a $0.694 dividend. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd.

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.