PFG Advisors Increases Stake in Invesco QQQ $QQQ

PFG Advisors increased its position in Invesco QQQ (NASDAQ:QQQ) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,706 shares of the exchange traded fund’s stock after buying an additional 5,929 shares during the quarter. Invesco QQQ accounts for 1.6% of PFG Advisors’ portfolio, making the stock its 7th largest position. PFG Advisors’ holdings in Invesco QQQ were worth $48,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares during the period. Wealth Group Ltd. lifted its stake in shares of Invesco QQQ by 305.2% in the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock valued at $3,010,000 after acquiring an additional 4,835 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Invesco QQQ by 7.7% during the 1st quarter. Bank of New York Mellon Corp now owns 99,906 shares of the exchange traded fund’s stock valued at $46,848,000 after acquiring an additional 7,147 shares during the period. Finally, Country Club Bank boosted its holdings in Invesco QQQ by 4.7% during the 1st quarter. Country Club Bank now owns 3,285 shares of the exchange traded fund’s stock valued at $1,540,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $609.74 on Friday. The stock’s 50 day simple moving average is $601.34 and its 200 day simple moving average is $560.02. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $637.01.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 22nd were paid a $0.694 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

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.