Invesco QQQ (NASDAQ:QQQ) is J.W. Cole Advisors Inc.'s 7th Largest Position

J.W. Cole Advisors Inc. increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,667 shares of the exchange traded fund's stock after acquiring an additional 2,732 shares during the period. Invesco QQQ makes up 1.7% of J.W. Cole Advisors Inc.'s investment portfolio, making the stock its 7th largest holding. J.W. Cole Advisors Inc.'s holdings in Invesco QQQ were worth $54,707,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wilkins Miller Wealth Management LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at approximately $1,018,000. Grant Private Wealth Management Inc purchased a new stake in Invesco QQQ during the fourth quarter valued at approximately $815,000. Gemsstock Ltd. increased its holdings in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after buying an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth $4,623,000. Finally, Wescott Financial Advisory Group LLC increased its stake 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 worth $75,071,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock traded up $0.51 during trading on Wednesday, hitting $561.76. 23,000,050 shares of the company's stock traded hands, compared to its average volume of 39,444,761. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $566.06. The business has a fifty day simple moving average of $534.38 and a 200 day simple moving average of $507.13.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 0.42%. The ex-dividend date is 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.