Commonwealth Equity Services LLC Boosts Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Invesco QQQ by 2.3%, owning approximately 2,480,244 shares worth $1.16 billion as of the latest report.
• Several institutional investors, including Eagle Capital Management and Brighton Jones LLC, also increased their positions in Invesco QQQ during the fourth quarter.
• The stock has a 52-week range between $402.39 and $574.63, and the most recent quarterly dividend was $0.5911, yielding 0.4% annually.

Commonwealth Equity Services LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,480,244 shares of the exchange traded fund's stock after acquiring an additional 54,944 shares during the period. Invesco QQQ comprises 1.6% of Commonwealth Equity Services LLC's portfolio, making the stock its 5th largest holding. Commonwealth Equity Services LLC owned approximately 0.40% of Invesco QQQ worth $1,163,036,000 as of its most recent SEC filing.

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

Invesco QQQ Price Performance

QQQ traded down $11.13 during trading on Friday, hitting $553.88. 69,290,965 shares of the company's stock were exchanged, compared to its average volume of 43,611,480. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63. The stock has a 50 day moving average price of $544.01 and a 200 day moving average price of $510.67.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 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.