Purkiss Capital Advisors LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Purkiss Capital Advisors LLC increased its holdings in Invesco QQQ by 78.0% in the 1st quarter, owning a total of 2,206 shares valued at approximately $1,034,000.
• Other institutional investors have also increased their stakes in Invesco QQQ, with prominent increases from Prevail Innovative Wealth Advisors LLC and Legacy Investment Solutions LLC during the 4th quarter.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend yield of 0.42%, to be paid on July 31st.

Purkiss Capital Advisors LLC raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,206 shares of the exchange traded fund's stock after buying an additional 967 shares during the quarter. Invesco QQQ comprises about 0.8% of Purkiss Capital Advisors LLC's portfolio, making the stock its 26th biggest holding. Purkiss Capital Advisors LLC's holdings in Invesco QQQ were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its position in shares of Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after purchasing an additional 568,120 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Invesco QQQ by 18.1% during the first quarter. TD Asset Management Inc now owns 1,378,074 shares of the exchange traded fund's stock worth $646,206,000 after purchasing an additional 210,894 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Invesco QQQ by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund's stock worth $629,680,000 after purchasing an additional 14,017 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.2%

Shares of QQQ traded down $0.90 during mid-day trading on Thursday, hitting $567.12. 41,708,839 shares of the company's stock were exchanged, compared to its average volume of 44,606,402. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63. The stock's 50-day moving average is $542.10 and its 200-day moving average is $509.98.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend 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.