Strategic Advocates LLC Has $25.06 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Strategic Advocates LLC increased its stake in Invesco QQQ by 6.5% during the first quarter, bringing its total holdings to over $25 million, making it the firm's second-largest portfolio position.
• Invesco QQQ recently declared a quarterly dividend of $0.5911, resulting in an annualized dividend of $2.36, with a yield of approximately 0.4%.
• The stock is currently trading around $565, reflecting a 0.5% decline, with a 12-month price range between $402.39 and $574.63.

Strategic Advocates LLC increased its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,451 shares of the exchange traded fund's stock after purchasing an additional 3,243 shares during the quarter. Invesco QQQ makes up approximately 8.7% of Strategic Advocates LLC's investment portfolio, making the stock its 2nd biggest position. Strategic Advocates LLC's holdings in Invesco QQQ were worth $25,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wilkins Miller Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter worth $1,018,000. Grant Private Wealth Management Inc bought a new stake in Invesco QQQ during the fourth quarter valued at about $815,000. Gemsstock Ltd. lifted its position in shares of Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after acquiring an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its stake in shares of Invesco QQQ by 1.8% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after acquiring an additional 2,600 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded down $11.13 during trading on Friday, hitting $553.88. 69,290,965 shares of the company's stock were exchanged, compared to its average volume of 40,141,440. The business's 50-day simple moving average is $543.12 and its 200 day simple moving average is $510.39. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend 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.