Hudson Valley Investment Advisors Inc. ADV Decreases Stake in Invesco QQQ $QQQ

Hudson Valley Investment Advisors Inc. ADV lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Compass Financial Services Inc increased its position in shares of Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock valued at $2,345,000 after buying an additional 19 shares during the period. Vermillion Wealth Management Inc. increased its position in shares of Invesco QQQ by 4.2% during the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock valued at $271,000 after buying an additional 20 shares during the period. Barrett & Company Inc. increased its position in shares of Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after buying an additional 20 shares during the period. MTM Investment Management LLC increased its position in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock valued at $613,000 after buying an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC increased its position in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock valued at $710,000 after buying an additional 21 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 0.4%

Shares of QQQ opened at $603.18 on Friday. The business’s 50-day moving average price is $579.85 and its 200-day moving average price is $532.17. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $607.33.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

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.