Hudson Valley Investment Advisors Inc. ADV Decreases Position in Invesco QQQ (NASDAQ:QQQ)

Hudson Valley Investment Advisors Inc. ADV trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 26.2% during the third quarter, Holdings Channel reports. The firm owned 2,985 shares of the exchange traded fund’s stock after selling 1,061 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Invesco QQQ were worth $1,457,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the first quarter worth $40,000. CGC Financial Services LLC raised its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $496.38 on Thursday. Invesco QQQ has a fifty-two week low of $346.62 and a fifty-two week high of $503.52. The business has a fifty day moving average of $481.47 and a 200-day moving average of $468.04.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

Invesco QQQ Company 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.