Colton Groome Financial Advisors LLC Sells 716 Shares of Invesco QQQ (NASDAQ:QQQ)

Colton Groome Financial Advisors LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,662 shares of the exchange traded fund’s stock after selling 716 shares during the quarter. Invesco QQQ makes up approximately 1.4% of Colton Groome Financial Advisors LLC’s holdings, making the stock its 20th biggest holding. Colton Groome Financial Advisors LLC’s holdings in Invesco QQQ were worth $3,402,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the 1st quarter valued at about $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $35,000. Red Tortoise LLC raised its position in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after acquiring an additional 74 shares during the period. Friedenthal Financial acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $41,000. Finally, Robinson Capital Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $40,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $481.62 on Tuesday. The company’s 50 day moving average price is $454.85 and its two-hundred day moving average price is $436.77. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $487.20.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, June 24th.

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.