Invesco QQQ $QQQ Shares Bought by PKS Advisory Services LLC

Key Points

• PKS Advisory Services LLC increased its stake in Invesco QQQ by 2.4%, making it the firm’s 2nd largest position with holdings worth approximately $21.5 million.
• Recent filings indicate that about 44.58% of Invesco QQQ's stock is owned by hedge funds and institutional investors, with multiple firms purchasing new stakes in the ETF in recent quarters.
• Invesco QQQ's stock is currently priced at $570.32, showing a slight decrease of 0.3% and has a dividend yield of 0.4% after its latest quarterly dividend announcement.

PKS Advisory Services LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,867 shares of the exchange traded fund's stock after purchasing an additional 1,090 shares during the quarter. Invesco QQQ accounts for about 6.2% of PKS Advisory Services LLC's investment portfolio, making the stock its 2nd largest holding. PKS Advisory Services LLC's holdings in Invesco QQQ were worth $21,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QQQ. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $51,000. Banque Transatlantique SA acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $57,000. Finally, Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.2%

QQQ traded up $0.88 on Wednesday, reaching $573.49. 36,686,193 shares of the company's stock were exchanged, compared to its average volume of 46,663,848. The company's 50 day moving average is $560.41 and its 200-day moving average is $516.76. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Invesco QQQ Cuts Dividend

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

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.