Golden State Wealth Management LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Golden State Wealth Management LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 113.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,999 shares of the exchange traded fund's stock after buying an additional 34,498 shares during the quarter. Invesco QQQ comprises 2.2% of Golden State Wealth Management LLC's portfolio, making the stock its 5th biggest holding. Golden State Wealth Management LLC's holdings in Invesco QQQ were worth $30,499,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QQQ. Providence First Trust Co lifted its holdings in Invesco QQQ by 3.0% during the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund's stock worth $346,000 after purchasing an additional 20 shares during the last quarter. Diversified Enterprises LLC grew its holdings in Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock valued at $2,679,000 after buying an additional 20 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its position in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock worth $247,000 after buying an additional 20 shares during the period. Legacy Investment Solutions LLC lifted its holdings in shares of Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after buying an additional 20 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $1.87 during midday trading on Friday, hitting $548.09. The company had a trading volume of 57,440,636 shares, compared to its average volume of 38,990,495. The firm has a 50-day moving average price of $507.68 and a 200-day moving average price of $503.87. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $549.90.

Invesco QQQ Cuts Dividend

The company 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 $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a 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.