Wedbush Securities Inc. increased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,043 shares of the exchange traded fund's stock after purchasing an additional 5,673 shares during the quarter. Invesco QQQ makes up about 1.6% of Wedbush Securities Inc.'s portfolio, making the stock its 7th largest holding. Wedbush Securities Inc.'s holdings in Invesco QQQ were worth $43,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the stock. Wilkins Miller Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter worth $1,018,000. Grant Private Wealth Management Inc purchased a new stake in Invesco QQQ during the fourth quarter worth about $815,000. Gemsstock Ltd. boosted its position in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares during the period. Tandem Investment Partners LLC bought a new position in Invesco QQQ during the fourth quarter worth about $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its position in shares of Invesco QQQ by 1.8% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock valued at $75,071,000 after acquiring an additional 2,600 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.
Invesco QQQ Price Performance
Shares of QQQ stock traded up $1.36 during trading hours on Friday, reaching $566.37. The stock had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. The stock's fifty day simple moving average is $539.14 and its 200 day simple moving average is $508.84. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $567.70.
Invesco QQQ Cuts Dividend
The company also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.
About Invesco QQQ
(
Free Report)
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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