U.S. Capital Wealth Advisors LLC Has $34.59 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

U.S. Capital Wealth Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,762 shares of the exchange traded fund's stock after selling 4,591 shares during the quarter. Invesco QQQ makes up approximately 1.1% of U.S. Capital Wealth Advisors LLC's portfolio, making the stock its 12th largest position. U.S. Capital Wealth Advisors LLC's holdings in Invesco QQQ were worth $34,588,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sightline Wealth Advisors LLC increased its position in Invesco QQQ by 22.1% during the first quarter. Sightline Wealth Advisors LLC now owns 11,189 shares of the exchange traded fund's stock worth $5,247,000 after acquiring an additional 2,027 shares during the period. Brass Tax Wealth Management Inc. boosted its stake in Invesco QQQ by 2.9% during the first quarter. Brass Tax Wealth Management Inc. now owns 2,091 shares of the exchange traded fund's stock worth $980,000 after buying an additional 58 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Invesco QQQ by 24.4% in the 1st quarter. Financial Counselors Inc. now owns 12,573 shares of the exchange traded fund's stock worth $5,896,000 after purchasing an additional 2,466 shares during the last quarter. Liberty Square Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 6.2% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 12,982 shares of the exchange traded fund's stock worth $6,088,000 after purchasing an additional 755 shares during the last quarter. Finally, Byrne Financial Freedom LLC grew its holdings in shares of Invesco QQQ by 2.5% in the 1st quarter. Byrne Financial Freedom LLC now owns 7,517 shares of the exchange traded fund's stock worth $3,525,000 after purchasing an additional 180 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.8%

NASDAQ QQQ traded down $4.19 on Monday, hitting $552.03. 45,126,311 shares of the company were exchanged, compared to its average volume of 39,298,420. The firm has a 50 day moving average of $519.53 and a two-hundred day moving average of $504.60. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.43%.

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.