Nations Financial Group Inc. IA ADV Has $21.38 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Nations Financial Group Inc. IA ADV reduced its holdings in Invesco QQQ by 1.7%, now holding 45,602 shares valued at $21.38 million, making it the 7th largest position in their portfolio.
• Several institutional investors, including Baird Financial Group Inc. and Sentinus LLC, have recently modified their positions in Invesco QQQ, indicating a shift in institutional interest.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, representing an annualized yield of 0.4%, with significant performance variations noted over the past 52 weeks.

Nations Financial Group Inc. IA ADV lowered its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,602 shares of the exchange traded fund's stock after selling 770 shares during the period. Invesco QQQ makes up 1.6% of Nations Financial Group Inc. IA ADV's portfolio, making the stock its 7th biggest position. Nations Financial Group Inc. IA ADV's holdings in Invesco QQQ were worth $21,384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Wilkins Miller Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $1,018,000. Sentinus LLC lifted its stake in shares of Invesco QQQ by 17.6% in the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after purchasing an additional 970 shares during the last quarter. Sendero Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $273,000. Cary Street Partners Financial LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at $10,052,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Invesco QQQ by 4.0% in the 4th quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund's stock valued at $167,394,000 after purchasing an additional 12,627 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $579.89 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The firm has a fifty day moving average price of $553.18 and a two-hundred day moving average price of $513.78.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.

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