Avantax Planning Partners Inc. Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Avantax Planning Partners Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,267 shares of the exchange traded fund's stock after purchasing an additional 561 shares during the quarter. Avantax Planning Partners Inc.'s holdings in Invesco QQQ were worth $4,815,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ during the first quarter worth $50,000. Westend Capital Management LLC purchased a new position in Invesco QQQ during the first quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $555.88 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.20. The firm has a 50-day moving average price of $517.86 and a 200-day moving average price of $504.61.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

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.

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