Mission Hills Financial Advisory LLC Has $8.39 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Mission Hills Financial Advisory LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,882 shares of the exchange traded fund's stock after buying an additional 1,139 shares during the period. Invesco QQQ comprises 5.8% of Mission Hills Financial Advisory LLC's holdings, making the stock its 7th biggest holding. Mission Hills Financial Advisory LLC's holdings in Invesco QQQ were worth $8,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $36,000. Banque Transatlantique SA bought a new position in Invesco QQQ in the fourth quarter worth approximately $57,000. Perritt Capital Management Inc purchased a new stake in Invesco QQQ during the fourth quarter worth $61,000. Finally, Frazier Financial Advisors LLC boosted its position in Invesco QQQ by 1,288.9% during the 4th quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund's stock valued at $64,000 after acquiring an additional 116 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.5%

Shares of NASDAQ:QQQ opened at $539.78 on Wednesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The business's fifty day simple moving average is $503.69 and its 200-day simple moving average is $503.45.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.44%. 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.