Florida Financial Advisors LLC Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Florida Financial Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,908 shares of the exchange traded fund's stock after buying an additional 506 shares during the period. Invesco QQQ accounts for approximately 4.2% of Florida Financial Advisors LLC's holdings, making the stock its 2nd biggest holding. Florida Financial Advisors LLC's holdings in Invesco QQQ were worth $10,739,000 at the end of the most recent reporting period.

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

Invesco QQQ Stock Up 0.1%

Shares of NASDAQ:QQQ traded up $0.57 during mid-day trading on Wednesday, hitting $557.29. The stock had a trading volume of 49,265,170 shares, compared to its average volume of 39,504,481. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $560.80. The company's 50 day moving average is $529.97 and its 200-day moving average is $506.17.

Invesco QQQ Cuts Dividend

The business also recently announced 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 is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

Invesco QQQ 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.