Flagship Harbor Advisors LLC Has $9.91 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Flagship Harbor Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 76.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,143 shares of the exchange traded fund's stock after selling 67,824 shares during the period. Flagship Harbor Advisors LLC's holdings in Invesco QQQ were worth $9,914,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Encompass Wealth Advisors LLC grew its position in shares of Invesco QQQ by 12.9% in the first quarter. Encompass Wealth Advisors LLC now owns 3,673 shares of the exchange traded fund's stock valued at $1,723,000 after purchasing an additional 420 shares during the last quarter. Illumine Investment Management LLC boosted its holdings in shares of Invesco QQQ by 1.9% in the 1st quarter. Illumine Investment Management LLC now owns 2,703 shares of the exchange traded fund's stock worth $1,267,000 after acquiring an additional 50 shares in the last quarter. Ridgecrest Wealth Partners LLC boosted its holdings in shares of Invesco QQQ by 4.1% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 4,267 shares of the exchange traded fund's stock worth $2,001,000 after acquiring an additional 167 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Invesco QQQ by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock worth $629,680,000 after acquiring an additional 14,017 shares in the last quarter. Finally, Westhampton Capital LLC boosted its holdings in shares of Invesco QQQ by 5.0% in the 1st quarter. Westhampton Capital LLC now owns 2,104 shares of the exchange traded fund's stock worth $987,000 after acquiring an additional 101 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.9%

QQQ traded up $5.06 during mid-day trading on Thursday, reaching $546.22. The stock had a trading volume of 43,614,634 shares, compared to its average volume of 38,865,350. The firm's fifty day simple moving average is $507.68 and its two-hundred day simple moving average is $503.87. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $547.05.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 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.