Invesco QQQ (NASDAQ:QQQ) is Able Wealth Management LLC's 2nd Largest Position

Able Wealth Management LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6,260.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,910 shares of the exchange traded fund's stock after purchasing an additional 37,314 shares during the period. Invesco QQQ comprises 9.6% of Able Wealth Management LLC's investment portfolio, making the stock its 2nd largest position. Able Wealth Management LLC's holdings in Invesco QQQ were worth $17,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of QQQ. Diversified Enterprises LLC boosted its position in shares of Invesco QQQ by 0.4% in the fourth quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after acquiring an additional 20 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its stake in Invesco QQQ by 4.3% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after purchasing an additional 20 shares during the period. Legacy Investment Solutions LLC raised its stake in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after purchasing an additional 20 shares during the last quarter. Finally, Willis Johnson & Associates Inc. grew its stake in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after buying an additional 21 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.9%

Shares of QQQ traded up $5.08 during trading hours on Friday, hitting $555.88. The stock had a trading volume of 26,443,524 shares, compared to its average volume of 39,274,525. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.20. The company's fifty day simple moving average is $519.53 and its 200 day simple moving average is $504.60.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued 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 0.43%.

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.