N.E.W. Advisory Services LLC Has $4 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• N.E.W. Advisory Services LLC increased its holdings in Invesco QQQ by 43.3% during the first quarter, now owning 8,535 shares valued at approximately $4 million.
• Other hedge funds, including JSF Financial LLC and Pinnacle Wealth Management Advisory Group LLC, also raised their stakes in Invesco QQQ, contributing to significant institutional ownership now at 44.58%.
• Invesco QQQ's upcoming quarterly dividend is set at $0.5911 per share, with an annualized yield of 0.42%.

N.E.W. Advisory Services LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 43.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,535 shares of the exchange traded fund's stock after purchasing an additional 2,577 shares during the quarter. N.E.W. Advisory Services LLC's holdings in Invesco QQQ were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eagle Capital Management LLC grew its position in shares of Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after purchasing an additional 185 shares during the period. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Invesco QQQ by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 136,665 shares of the exchange traded fund's stock worth $70,420,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC boosted its position in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after acquiring an additional 20 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 2.0%

NASDAQ:QQQ traded down $11.33 during trading hours on Friday, reaching $553.68. 55,959,957 shares of the stock were exchanged, compared to its average volume of 44,864,859. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.63. The firm has a 50 day moving average of $543.12 and a 200 day moving average of $510.39.

Invesco QQQ Cuts Dividend

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

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.