Fairfield Financial Advisors LTD Has $26.83 Million Position in Invesco QQQ (NASDAQ:QQQ)

Fairfield Financial Advisors LTD reduced its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,967 shares of the exchange traded fund’s stock after selling 463 shares during the period. Invesco QQQ accounts for about 9.1% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its biggest position. Fairfield Financial Advisors LTD’s holdings in Invesco QQQ were worth $26,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ during the first quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $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 buying an additional 81 shares during the period. 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 buying an additional 24 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 2.1 %

Shares of NASDAQ QQQ traded down $10.37 during midday trading on Thursday, hitting $486.01. The company’s stock had a trading volume of 19,119,004 shares, compared to its average volume of 38,547,910. Invesco QQQ has a 12-month low of $346.62 and a 12-month high of $503.52. The business’s 50 day moving average is $481.47 and its two-hundred day moving average is $468.04.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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 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.