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

Kovack Advisors Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 40,180 shares of the exchange traded fund's stock after selling 1,336 shares during the quarter. Invesco QQQ comprises approximately 2.0% of Kovack Advisors Inc.'s portfolio, making the stock its 7th biggest position. Kovack Advisors Inc.'s holdings in Invesco QQQ were worth $18,841,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. NWI Management LP grew its position in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC grew its holdings in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new position in shares of Invesco QQQ in the 4th quarter worth $679,936,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter worth about $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its position in Invesco QQQ by 100,517.9% in the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after acquiring an additional 931,801 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $1.36 on Friday, reaching $566.37. The company had a trading volume of 30,579,821 shares, compared to its average volume of 40,473,144. The firm's 50-day moving average price is $539.14 and its two-hundred day moving average price is $508.80. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $567.70.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.