Legend Financial Advisors Inc. Has $12.64 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Legend Financial Advisors Inc. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,896 shares of the exchange traded fund’s stock after selling 1,079 shares during the quarter. Invesco QQQ makes up approximately 8.7% of Legend Financial Advisors Inc.’s holdings, making the stock its 3rd biggest position. Legend Financial Advisors Inc.’s holdings in Invesco QQQ were worth $12,639,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC grew its stake 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 valued at $44,000 after buying an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake 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 valued at $46,000 after buying an additional 24 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $494.47 on Friday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The firm has a fifty day simple moving average of $477.68 and a 200 day simple moving average of $464.82.

Invesco QQQ Cuts Dividend

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

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.