Cornerstone Advisory LLC Has $4.68 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Cornerstone Advisory LLC increased its holdings in Invesco QQQ by 10.1% during the first quarter, acquiring an additional 893 shares to reach a total of 9,711 shares valued at approximately $4.68 million.
• Multiple institutional investors, such as Prevail Innovative Wealth Advisors LLC and Legacy Investment Solutions LLC, have also recently adjusted their stakes in Invesco QQQ, indicating increased interest in the ETF.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, set to be paid to shareholders on July 31, reflecting an annualized yield of 0.42%.

Cornerstone Advisory LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,711 shares of the exchange traded fund's stock after buying an additional 893 shares during the period. Cornerstone Advisory LLC's holdings in Invesco QQQ were worth $4,675,000 as of its most recent SEC filing.

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

Invesco QQQ Trading Up 0.4%

QQQ stock traded up $2.02 during trading hours on Wednesday, hitting $569.28. 13,042,312 shares of the stock traded hands, compared to its average volume of 44,446,180. The stock has a 50-day simple moving average of $541.00 and a 200 day simple moving average of $509.58. Invesco QQQ has a one year low of $402.39 and a one year high of $572.11.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a $0.5911 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.