Atlas Financial Advisors Inc. Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Atlas Financial Advisors Inc. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 14.6% in the 3rd quarter, Holdings Channel reports. The firm owned 14,235 shares of the exchange traded fund’s stock after selling 2,438 shares during the quarter. Invesco QQQ accounts for 11.0% of Atlas Financial Advisors Inc.’s holdings, making the stock its 3rd largest position. Atlas Financial Advisors Inc.’s holdings in Invesco QQQ were worth $6,947,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Invesco QQQ in the 1st quarter worth $39,478,000. WFA Asset Management Corp lifted its stake in Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares during the last quarter. PBCay One RSC Ltd boosted its holdings in shares of Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after purchasing an additional 22,000 shares in the last quarter. Schear Investment Advisers LLC increased its position in shares of Invesco QQQ by 47.8% during the 1st quarter. Schear Investment Advisers LLC now owns 5,794 shares of the exchange traded fund’s stock valued at $2,573,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Capital Investment Counsel Inc purchased a new position in shares of Invesco QQQ during the 1st quarter valued at about $264,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $487.43 on Friday. The business has a 50 day moving average of $481.80 and a 200 day moving average of $468.54. Invesco QQQ has a 1-year low of $360.30 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

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.