IFG Advisors LLC Sells 19,931 Shares of Invesco QQQ (NASDAQ:QQQ)

IFG Advisors LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 20.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,328 shares of the exchange traded fund’s stock after selling 19,931 shares during the period. Invesco QQQ accounts for 7.9% of IFG Advisors LLC’s holdings, making the stock its 2nd biggest holding. IFG Advisors LLC’s holdings in Invesco QQQ were worth $36,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. KMG Fiduciary Partners LLC raised its holdings in shares of Invesco QQQ by 7.2% during the third quarter. KMG Fiduciary Partners LLC now owns 756 shares of the exchange traded fund’s stock valued at $369,000 after purchasing an additional 51 shares during the period. Net Worth Advisory Group bought a new stake in shares of Invesco QQQ during the third quarter worth about $1,666,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Invesco QQQ during the third quarter worth about $1,379,000. Stratos Wealth Advisors LLC grew its position in Invesco QQQ by 19.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,905 shares of the exchange traded fund’s stock worth $19,477,000 after purchasing an additional 6,587 shares in the last quarter. Finally, D. Scott Neal Inc. grew its position in Invesco QQQ by 6.5% in the 3rd quarter. D. Scott Neal Inc. now owns 54,496 shares of the exchange traded fund’s stock worth $26,634,000 after purchasing an additional 3,345 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7 %

Shares of QQQ stock opened at $494.47 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The company has a 50-day simple moving average of $477.68 and a two-hundred day simple moving average of $464.82.

Invesco QQQ Cuts Dividend

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

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.