Evolution Wealth Advisors LLC Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Evolution Wealth Advisors LLC increased its stake in Invesco QQQ by 9.8% during the first quarter, owning a total of 39,017 shares valued at approximately $18.3 million.
• Several other institutional investors also adjusted their stakes, with notable increases from WealthShield Partners LLC by 286% and Atlantic Private Wealth LLC by a staggering 3,000%.
• The latest share price for Invesco QQQ is $560.27, experiencing a robust year with a 1-year low of $402.39 and a high of $574.63.

Evolution Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,017 shares of the exchange traded fund's stock after acquiring an additional 3,469 shares during the period. Invesco QQQ accounts for about 3.1% of Evolution Wealth Advisors LLC's holdings, making the stock its 8th biggest position. Evolution Wealth Advisors LLC's holdings in Invesco QQQ were worth $18,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ in the 4th quarter valued at about $1,018,000. Tandem Investment Partners LLC purchased a new position in Invesco QQQ in the 4th quarter valued at about $4,623,000. Sentinus LLC increased its holdings in Invesco QQQ by 17.6% during the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock worth $3,307,000 after purchasing an additional 970 shares during the last quarter. Phoenix Financial Ltd. grew its holdings in Invesco QQQ by 55.4% during the 4th quarter. Phoenix Financial Ltd. now owns 100,760 shares of the exchange traded fund's stock worth $51,894,000 after acquiring an additional 35,912 shares in the last quarter. Finally, Sendero Wealth Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter worth about $273,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $1.92 during trading on Thursday, reaching $569.24. The company had a trading volume of 44,049,632 shares, compared to its average volume of 44,292,076. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63. The firm's fifty day moving average is $546.86 and its 200-day moving average is $511.70.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was 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.