Invesco QQQ (NASDAQ:QQQ) is PFG Advisors' 2nd Largest Position

PFG Advisors boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,777 shares of the exchange traded fund's stock after acquiring an additional 721 shares during the period. Invesco QQQ accounts for 2.1% of PFG Advisors' portfolio, making the stock its 2nd largest position. PFG Advisors' holdings in Invesco QQQ were worth $38,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in QQQ. Eagle Capital Management LLC grew its position in shares of Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares during the last quarter. Brighton Jones LLC grew its position in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Guardian Partners Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth about $361,000. Finally, Crowley Wealth Management Inc. bought a new position in Invesco QQQ in the 4th quarter valued at about $102,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $564.17 on Tuesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $566.06. The company has a 50-day moving average of $534.38 and a 200-day moving average of $507.13.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%. 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.

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