Kellett Wealth Advisors LLC Raises Position in Invesco QQQ (NASDAQ:QQQ)

Kellett Wealth Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,019 shares of the exchange traded fund's stock after acquiring an additional 1,315 shares during the quarter. Invesco QQQ accounts for 4.9% of Kellett Wealth Advisors LLC's portfolio, making the stock its 4th largest holding. Kellett Wealth Advisors LLC's holdings in Invesco QQQ were worth $7,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $36,000. Banque Transatlantique SA bought a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $57,000. Perritt Capital Management Inc acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $61,000. Finally, Frazier Financial Advisors LLC increased its holdings in Invesco QQQ by 1,288.9% in the 4th quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $1.87 during midday trading on Friday, reaching $548.09. 57,440,636 shares of the company's stock were exchanged, compared to its average volume of 38,990,495. The company's 50 day simple moving average is $507.68 and its two-hundred day simple moving average is $503.87. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $549.90.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is 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.