Invesco QQQ (NASDAQ:QQQ) is Sheaff Brock Investment Advisors LLC's 8th Largest Position

Key Points

• Sheaff Brock Investment Advisors LLC increased its stake in Invesco QQQ by 6.6% in the first quarter, owning 33,804 shares valued at $15,851,000.
• Institutional investors currently hold 44.58% of Invesco QQQ's stock, with several firms buying in during the fourth quarter and first quarter.
• Invesco QQQ has declared a quarterly dividend of $0.5911 per share, scheduled for payment on July 31st, contributing to an annualized yield of 0.42%.

Sheaff Brock Investment Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,804 shares of the exchange traded fund's stock after buying an additional 2,093 shares during the quarter. Invesco QQQ comprises 1.5% of Sheaff Brock Investment Advisors LLC's portfolio, making the stock its 8th largest position. Sheaff Brock Investment Advisors LLC's holdings in Invesco QQQ were worth $15,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Passive Capital Management LLC. lifted its stake in shares of Invesco QQQ by 31.7% in the first quarter. Passive Capital Management LLC. now owns 3,421 shares of the exchange traded fund's stock worth $1,604,000 after buying an additional 824 shares in the last quarter. Brio Consultants LLC lifted its stake in shares of Invesco QQQ by 1,681.4% in the first quarter. Brio Consultants LLC now owns 22,749 shares of the exchange traded fund's stock worth $10,667,000 after buying an additional 21,472 shares in the last quarter. Richards Merrill & Peterson Inc. lifted its stake in shares of Invesco QQQ by 5.5% in the first quarter. Richards Merrill & Peterson Inc. now owns 13,741 shares of the exchange traded fund's stock worth $6,443,000 after buying an additional 713 shares in the last quarter. Alteri Wealth LLC lifted its stake in shares of Invesco QQQ by 7.9% in the first quarter. Alteri Wealth LLC now owns 2,746 shares of the exchange traded fund's stock worth $1,288,000 after buying an additional 200 shares in the last quarter. Finally, Waddell & Associates LLC lifted its stake in shares of Invesco QQQ by 8.7% in the first quarter. Waddell & Associates LLC now owns 2,031 shares of the exchange traded fund's stock worth $952,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.1%

Invesco QQQ stock traded down $0.77 during midday trading on Thursday, reaching $567.26. 33,828,203 shares of the company traded hands, compared to its average volume of 44,565,254. The business has a 50 day moving average of $542.10 and a two-hundred day moving average of $509.98. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63.

Invesco QQQ Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.