Invesco QQQ (NASDAQ:QQQ) is Ameritas Advisory Services LLC's 2nd Largest Position

Ameritas Advisory Services LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,036 shares of the exchange traded fund's stock after selling 29,133 shares during the quarter. Invesco QQQ accounts for about 2.3% of Ameritas Advisory Services LLC's investment portfolio, making the stock its 2nd biggest holding. Ameritas Advisory Services LLC's holdings in Invesco QQQ were worth $56,816,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at $1,018,000. Synergy Investment Management LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc bought a new stake in Invesco QQQ during the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $4,623,000. Finally, Gemsstock Ltd. grew its holdings in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after purchasing an additional 213,400 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $548.09 on Monday. The stock has a 50-day simple moving average of $509.76 and a two-hundred day simple moving average of $503.72. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $552.23.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.