Private Client Services LLC Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Private Client Services LLC lifted its position in Invesco QQQ (NASDAQ:QQQ) by 11.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,342 shares of the exchange traded fund’s stock after buying an additional 890 shares during the period. Invesco QQQ makes up 1.9% of Private Client Services LLC’s holdings, making the stock its 10th largest position. Private Client Services LLC’s holdings in Invesco QQQ were worth $3,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QQQ. Proficio Capital Partners LLC raised its position in shares of Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after purchasing an additional 11,478,188 shares during the period. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares during the period. Strategic Financial Concepts LLC raised its holdings in Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after buying an additional 4,105,389 shares during the period. PNC Financial Services Group Inc. raised its holdings in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after buying an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock worth $1,239,886,000 after buying an additional 52,235 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.2%

Shares of NASDAQ:QQQ opened at $519.93 on Friday. The company has a market cap of $325.81 billion, a P/E ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The company’s fifty day moving average is $477.59 and its two-hundred day moving average is $501.08.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.