Avantax Advisory Services Inc. Purchases 67,974 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Avantax Advisory Services Inc. increased its stake in Invesco QQQ by 16.9% in the first quarter, making it the company's 10th largest position, now accounting for approximately 1.3% of its holdings.
• Invesco QQQ has recently experienced trading activity with a 0.2% increase, hitting a price of $566.37 and showing both a 12-month low of $402.39 and a high of $567.70.
• The firm announced a quarterly dividend of $0.5911 per share, with an ex-dividend date on June 23rd, representing an annualized yield of 0.42%.

Avantax Advisory Services Inc. raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,678 shares of the exchange traded fund's stock after buying an additional 67,974 shares during the period. Invesco QQQ makes up about 1.3% of Avantax Advisory Services Inc.'s holdings, making the stock its 10th biggest holding. Avantax Advisory Services Inc. owned approximately 0.07% of Invesco QQQ worth $220,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the first quarter worth about $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ during the fourth quarter worth about $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $1.77 during trading hours on Monday, hitting $568.14. 15,735,520 shares of the company were exchanged, compared to its average volume of 44,548,445. Invesco QQQ has a one year low of $402.39 and a one year high of $569.04. The business's 50-day simple moving average is $539.14 and its two-hundred day simple moving average is $508.75.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.