Prism Advisors Inc. Increases Holdings in Invesco QQQ $QQQ

Key Points

• Prism Advisors Inc. increased its holdings in Invesco QQQ by 5.8% during the 2nd quarter, resulting in ownership of 16,145 shares valued at approximately $8.9 million.
• Other investors, such as Alpine Bank Wealth Management and Atlantic Private Wealth LLC, also made significant investments in Invesco QQQ, highlighting growing interest from institutional investors.
• Invesco QQQ shares experienced a slight increase of 0.4% recently, with the stock currently trading around $586.66 after reaching a one-year high of $587.86.

Prism Advisors Inc. grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,145 shares of the exchange traded fund's stock after purchasing an additional 886 shares during the quarter. Invesco QQQ makes up 2.5% of Prism Advisors Inc.'s investment portfolio, making the stock its 15th largest holding. Prism Advisors Inc.'s holdings in Invesco QQQ were worth $8,907,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC increased its position in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at $67,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.4%

Shares of Invesco QQQ stock opened at $586.66 on Monday. The stock has a fifty day moving average price of $568.24 and a 200-day moving average price of $520.68. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $587.86.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued 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 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.