Invesco QQQ (NASDAQ:QQQ) is Flagship Wealth Advisors LLC's Largest Position

Flagship Wealth Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,158 shares of the exchange traded fund's stock after acquiring an additional 5,453 shares during the period. Invesco QQQ comprises about 7.7% of Flagship Wealth Advisors LLC's holdings, making the stock its biggest position. Flagship Wealth Advisors LLC's holdings in Invesco QQQ were worth $18,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter worth $2,775,904,000. Ameriprise Financial Inc. raised its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares during the period. Commonwealth Equity Services LLC lifted its position in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after buying an additional 54,944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock valued at $1,124,614,000 after acquiring an additional 568,120 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ QQQ opened at $569.24 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63. The business has a 50-day moving average of $547.85 and a 200-day moving average of $512.02.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.

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