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

Navis Wealth Advisors LLC increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 75.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,036 shares of the exchange traded fund's stock after buying an additional 9,482 shares during the quarter. Invesco QQQ comprises 10.1% of Navis Wealth Advisors LLC's portfolio, making the stock its 2nd largest position. Navis Wealth Advisors LLC's holdings in Invesco QQQ were worth $10,333,000 as of its most recent filing with the SEC.

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

Invesco QQQ Price Performance

QQQ stock traded up $5.06 during midday trading on Thursday, hitting $546.22. 43,614,634 shares of the company's stock were exchanged, compared to its average volume of 38,801,022. The firm has a 50 day moving average price of $505.63 and a 200-day moving average price of $503.71. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $547.05.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. The ex-dividend date 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.