Capital Investment Advisors LLC Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

Capital Investment Advisors LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 47.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,122 shares of the exchange traded fund’s stock after buying an additional 4,247 shares during the quarter. Capital Investment Advisors LLC’s holdings in Invesco QQQ were worth $6,404,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of QQQ. Atwater Malick LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $293,000. Westwood Holdings Group Inc. lifted its stake in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares during the period. GenWealth Group Inc. lifted its stake in shares of Invesco QQQ by 5.8% in the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares during the period. Socha Financial Group LLC lifted its stake in shares of Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after purchasing an additional 1,153 shares during the period. Finally, SVB Wealth LLC lifted its stake in shares of Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $494.47 on Friday. The business has a 50 day moving average of $477.68 and a 200-day moving average of $464.82. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

About Invesco QQQ

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.