Acorn Financial Advisory Services Inc. ADV Has $15.57 Million Stake in Invesco QQQ $QQQ

Acorn Financial Advisory Services Inc. ADV raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,221 shares of the exchange traded fund’s stock after buying an additional 185 shares during the period. Invesco QQQ comprises 2.6% of Acorn Financial Advisory Services Inc. ADV’s portfolio, making the stock its 13th biggest position. Acorn Financial Advisory Services Inc. ADV’s holdings in Invesco QQQ were worth $15,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. GSG Advisors LLC increased its holdings in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock valued at $3,600,000 after purchasing an additional 585 shares in the last quarter. Amundi increased its holdings in shares of Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock valued at $49,980,000 after purchasing an additional 6,600 shares in the last quarter. Jackson Wealth Management LLC increased its holdings in shares of Invesco QQQ by 8.6% in the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund’s stock valued at $9,428,000 after purchasing an additional 1,586 shares in the last quarter. Greykasell Wealth Strategies Inc. increased its holdings in shares of Invesco QQQ by 8.4% in the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock valued at $3,649,000 after purchasing an additional 605 shares in the last quarter. Finally, AM Investment Strategies LLC increased its holdings in shares of Invesco QQQ by 46.5% in the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock valued at $904,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $598.00 on Wednesday. The firm has a 50 day simple moving average of $585.40 and a 200 day simple moving average of $538.03. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.