Kingsview Wealth Management LLC Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Kingsview Wealth Management LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,747 shares of the exchange traded fund's stock after purchasing an additional 695 shares during the period. Invesco QQQ makes up approximately 0.9% of Kingsview Wealth Management LLC's holdings, making the stock its 25th largest position. Kingsview Wealth Management LLC's holdings in Invesco QQQ were worth $46,305,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wilkins Miller Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter valued at approximately $1,018,000. Grant Private Wealth Management Inc bought a new position in Invesco QQQ in the 4th quarter valued at approximately $815,000. Gemsstock Ltd. lifted its position in Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC bought a new position in Invesco QQQ in the 4th quarter valued at approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC lifted its position in Invesco QQQ by 1.8% in the 4th 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 in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded down $0.54 during midday trading on Friday, hitting $561.26. The company's stock had a trading volume of 50,428,921 shares, compared to its average volume of 39,544,187. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $563.36. The firm's 50-day moving average is $532.92 and its 200-day moving average is $506.84.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.