Raymond James Financial Services Advisors Inc. Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Raymond James Financial Services Advisors Inc. cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,034,901 shares of the exchange traded fund's stock after selling 37,544 shares during the period. Invesco QQQ comprises 1.3% of Raymond James Financial Services Advisors Inc.'s portfolio, making the stock its 8th biggest position. Raymond James Financial Services Advisors Inc. owned 0.35% of Invesco QQQ worth $903,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund's stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Invesco QQQ by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund's stock worth $1,623,380,000 after purchasing an additional 52,019 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Invesco QQQ by 6.1% during the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund's stock valued at $1,530,696,000 after purchasing an additional 243,305 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the first quarter valued at about $1,580,776,000. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 7.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund's stock valued at $1,013,490,000 after purchasing an additional 162,691 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $8.16 during mid-day trading on Tuesday, hitting $424.59. 42,556,273 shares of the stock traded hands, compared to its average volume of 45,909,301. Invesco QQQ has a 52-week low of $315.11 and a 52-week high of $449.34. The stock's fifty day moving average is $436.86 and its two-hundred day moving average is $411.54.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, March 18th.

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.

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