Invesco QQQ (NASDAQ:QQQ) is Money Concepts Capital Corp's 7th Largest Position

Money Concepts Capital Corp raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 67,740 shares of the exchange traded fund's stock after purchasing an additional 2,178 shares during the period. Invesco QQQ accounts for approximately 2.4% of Money Concepts Capital Corp's portfolio, making the stock its 7th biggest holding. Money Concepts Capital Corp's holdings in Invesco QQQ were worth $31,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC lifted its holdings in Invesco QQQ by 2.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 66,737 shares of the exchange traded fund's stock valued at $31,294,000 after purchasing an additional 1,698 shares in the last quarter. Canvas Wealth Advisors LLC raised its holdings in shares of Invesco QQQ by 23.9% during the 1st quarter. Canvas Wealth Advisors LLC now owns 673 shares of the exchange traded fund's stock worth $299,000 after acquiring an additional 130 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 3.9% during the 1st quarter. Transcend Capital Advisors LLC now owns 36,724 shares of the exchange traded fund's stock worth $17,221,000 after acquiring an additional 1,392 shares during the period. Aspect Partners LLC raised its holdings in shares of Invesco QQQ by 10.1% during the 1st quarter. Aspect Partners LLC now owns 2,438 shares of the exchange traded fund's stock worth $1,143,000 after acquiring an additional 224 shares during the period. Finally, Victrix Investment Advisors purchased a new position in shares of Invesco QQQ during the 1st quarter worth $4,219,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.3%

Shares of NASDAQ QQQ traded up $1.87 during trading on Friday, hitting $548.09. 57,440,636 shares of the company were exchanged, compared to its average volume of 38,990,169. The company has a fifty day moving average price of $509.76 and a 200-day moving average price of $504.06. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $549.99.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

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.