Archford Capital Strategies LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Archford Capital Strategies LLC decreased its position in Invesco QQQ (NASDAQ:QQQ) by 49.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,191 shares of the exchange traded fund’s stock after selling 1,165 shares during the period. Archford Capital Strategies LLC’s holdings in Invesco QQQ were worth $559,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Providence First Trust Co grew its holdings in shares of Invesco QQQ by 3.0% during the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund’s stock worth $346,000 after purchasing an additional 20 shares during the period. Diversified Enterprises LLC grew its holdings in shares of Invesco QQQ by 0.4% during the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund’s stock worth $2,679,000 after purchasing an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its stake in Invesco QQQ by 4.3% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund’s stock worth $247,000 after buying an additional 20 shares during the period. Legacy Investment Solutions LLC boosted its stake in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock worth $138,000 after buying an additional 20 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock worth $3,080,000 after buying an additional 20 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.3%

NASDAQ:QQQ opened at $541.16 on Thursday. The company has a 50 day moving average price of $505.63 and a 200 day moving average price of $503.71. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $543.31.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given 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 0.44%.

Invesco QQQ 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.