Invesco QQQ (NASDAQ:QQQ) is Janney Montgomery Scott LLC's 8th Largest Position

Janney Montgomery Scott LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 757,456 shares of the exchange traded fund's stock after buying an additional 45,088 shares during the period. Invesco QQQ accounts for approximately 1.0% of Janney Montgomery Scott LLC's portfolio, making the stock its 8th largest position. Janney Montgomery Scott LLC owned about 0.13% of Invesco QQQ worth $310,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. International Assets Investment Management LLC increased its holdings in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund's stock valued at $11,602,698,000 after buying an additional 28,263,426 shares in the last quarter. Comerica Bank purchased a new position in Invesco QQQ in the third quarter valued at about $140,657,000. Granite Bay Wealth Management LLC increased its holdings in Invesco QQQ by 47.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund's stock valued at $451,075,000 after buying an additional 378,922 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its holdings in Invesco QQQ by 36.3% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,413,069 shares of the exchange traded fund's stock valued at $578,680,000 after buying an additional 376,661 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Invesco QQQ by 77.2% in the fourth quarter. Cerity Partners LLC now owns 842,894 shares of the exchange traded fund's stock valued at $345,182,000 after buying an additional 367,317 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.6 %

Invesco QQQ stock traded up $6.97 during mid-day trading on Wednesday, reaching $452.90. The company had a trading volume of 41,019,798 shares, compared to its average volume of 44,518,680. Invesco QQQ has a 1 year low of $326.02 and a 1 year high of $453.15. The stock's 50-day simple moving average is $436.91 and its 200-day simple moving average is $417.22.

Invesco QQQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a $0.5735 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.51%.

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.